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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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Thursday, July 31, 2014

Japan's Nikkei at H&S Major Resistance

As shown on the following Weekly chart of the Nikkei E-mini Futures Index, price has now reached a potential Head & Shoulders major resistance level.

Failure to hold above the 15500 level may see price plunge back down to the neckline at 14000. A break of that level with conviction puts the H&S pattern target at 11500.