Market Overview

Nikkei Forecast for 3rd June 2013

Nikkei Forecast for 3rd June 2013


Nikkei failure to beat tricky resistance at 14100/120 saw us then break 13540/530. The weekly close below the 6 month trend line starts this week on a negative. Failure to beat 13680/720 keeps the market under pressure to retest last week’s low of 13420. A break lower this week could target the next support at 13180. Exit shorts & try longs here as we should start to look oversold at this stage but, with stops below 13000.


Above 13720 could allow a move up towards 13893, possibly 14000/050. May be wise to exit longs here & try shorts up to 14186 with stops above 14300.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas


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