Nikkei forecast for the week of December 30, 2013, Technical Analysis

Nikkei forecast for the week of December 30, 2013, Technical Analysis

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The Nikkei broke above the ¥16,000 level during the week, closing at the ¥16,178 level. This market has broken out, and now has cleared the last vestiges of resistance in order to continue going much higher in our opinion. In fact, we believe this market goes to the ¥20,000 level given enough time, so we are very bullish of it and have started buying again. Selling is not an option as the Nikkei should have support down at the ¥15,000 level that should be rather significant. With that being the case, this is one of the most bullish markets that we follow.

 

Nikkei forecast for the week of December 30, 2013, Technical Analysis

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Nikkei forecast for the week of December 30, 2013, Technical Analysis

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