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NIKKEI 225 INDEX, H4 Potential for Bearish Momentum

40923 nikkei 225 index h4 potential for bearish momentum

Type: Bearish MomentumKey Levels:Resistance: 28330Pivot: 27390Support: 260780Preferred Case:On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will continue to drop from the pivot at 27390 at the overlap resistance in line with the 61.8% fibonacci retracement to the 1st support at 260780 in line with the swing low and 78.6% fibonacci projection.Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 28330 in line with the multiple swing highs.Fundamentals:No major news

Source: Tickmill

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