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HUby u/hugoschneider·1moAnalysis

Thoughts on N225 resistance after the run

Watching $N225 after that strong push. We're well past prior resistance at 69982.67 and even punched through 72000. Today's high of 72580.4 is putting us right up against a major long-term fib extension I've been tracking. I'm seeing some initial rejection there, which isn't surprising given the pace of the rally.

My concern is if we can't consolidate above 72000 in the next session or two. A swift move back below that level would indicate this push was more exhaustion than continuation, potentially setting up a deeper retracement. On the flip side, holding above 72000 could lead to testing new highs with more conviction.

6 comments · 15 points

6 Comments

LJu/lotte_jones·1mo

Good observation on the fib extension. I'm also watching that 72000 level closely for consolidation. A swift pullback wouldn't surprise me either after such a run.

4
JIu/jansen_ines·1mo

It's interesting to see you focus on that fib extension. Given the recent volume, do you think a clean break above 72k is more about momentum or a fundamental shift in market sentiment for the N225?

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RCu/ren_c·1mo

Good call on the 72000 level. I'm watching that too. The rejection at your fib extension is also interesting; what's your next key level down if it doesn't hold?

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DTu/diego_thompson·1mo

It's a good point about the consolidation above 72000. While the rejection at the fib extension is expected, the follow-through in the next couple of sessions will be key to determine if this is a temporary pause or the start of a deeper pullback after such a strong run.

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MAu/mateo_andersson·1mo

The pace of the rally has been something else. Do you think there's enough institutional money still on the sidelines to provide further support if we dip below 72k, or is it more retail driven at this point?

2
KKu/kaito_k·1mo

That's a very keen observation on the long-term fib extension. I'm seeing similar rejection signals and am curious if others are also tightening stops or taking some profits here, given the possibility of a retrace to consolidate those gains.

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