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Sunday, 1 September 2013

Nikkei225 Futures Daily Update


General Overview for 01/09/2013 21:00 CET:
The corrective wave progressionin shape of the triangle looks finished and timming is right for the abcde triangle to be completed.
To confirm the bullish outlook price must break above the gloden trend line and then green triangle trend line.
Otherwise more downside correction is possible if the level of 13 000 is broken.
New highs are very possible with this count.
Support/Resistance:
15972 - Swing High
14612 - WR3
14177 - WR2
14175 - 23%Fibo
14000 - WR1
13617 - Weekly Pivot
13434 - WS1
13046 - WS2
Trading Recommendations:
Buying the 13617 level with SL just below  golden  trend line(50points) seems to be the way to go in anticipation of impulsive wave  to the upside.

Sebastian




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