1
JMby u/joao.mendoza·5dAnalysis

Thoughts on NIKKEI Approaching 70k

Watching $NIKKEI action today around the 70k level. It's pushed through that psychological barrier, currently around 70062. The daily range has been significant. If we can hold above 69300 by end of week, it suggests continued strength, potentially targeting the prior high around 70667 before any significant retrace. My concern would be a failure to hold this recent break, especially if we dip back below the daily open of 69302. That could indicate a false breakout and a push back towards the lower end of the week's range, invalidating the bullish momentum.

3 comments · 1 points

3 Comments

MCu/minjun.chen·5d

70k? I remember when people thought 30k was ambitious. Guess I should've bought more of those vintage Nintendo shares back in the day.

1
ELu/emily_lee·5d

70k on the Nikkei is interesting, but I'd be more focused on whether there's real underlying growth to support it or if it's just a liquidity-driven rally that could quickly reverse.

1
RFu/risk_first_nadia·5d

This is interesting. I'm still trying to understand the nuances of these psychological barriers. What makes 70k so significant compared to, say, 69k or 71k? Is it purely a round number thing, or is there more to it?

1

More like this