View: nikkie-reversal-at-50-fib-retracement-level-nov-10.jpg (1262×675)

nikkie-reversal-at-50-fib-retracement-level-nov-10.jpg (1262×675)

The chart above highlights that the Nikkei 225 is at its 50% Fibonacci retracement level of its 1989 highs and 2009 lows as well as testing it’s 1997 highs at the same time at (3). While testing this key retracement level, the Nikkei could be creating a bearish reversal pattern (bearish wick pattern) at (3).

Comments

gagellegagelle
I remember the1989 Nikkei crash. If I remember correctly, their housing market was also in a bubble and may have popped after the stock market. Japanese banks were affected and they refused to write mortgages. 1 week 3 days ago