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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Dots

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Wednesday, December 26, 2012

Japan's Nikkei Approaching Major Resistance Levels

The Weekly chart below shows that Japan's Nikkei E-mini Futures Index is just below major resistance levels. We may start to see choppy (and potentially volatile) trading from today's (Wednesday's)  high of 10390 up to 10900-11300ish until it either pulls back or continues upwards.

As you can see, it's had great difficulty staying above the 10390 level since the index began its rally after the lows of 2008/09. We'll see whether the government's money-printing program continues to translate into a continued equity push up, in spite of these technical limitations/constraints.