nikkei weekly : watch 16265 support for reversal or breakdown

NIKKEI 225 weekly technical analysis for 21 to 25 march 2016

NIKKEI 225 weekly technical analysis for 21 to 25 march 2016

Nikkei this week closed with loss. This was second weekly loss for this index. On weekly chart, price trend and momentum both are bearish.   Though 16265 is major support for market and above it my outlook is still bullish. This 2 weeks negative move heading towards 16265 support to test it.   If reversal happen from 16265 level then expect upside target of 17600. Below it downtrend will get confirmed and accelerated selling might take Nikkei future up to 15k to 14,600 levels.

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