Nikkei Short-Term Elliott Wave Analysis
Short term Elliott Wave cycle suggests rally to 20060 ended wave ((X)). From this level, Index has turned lower in a double three structure where wave ((w)) ended at 19395, wave ((x)) ended at 19840, and wave ((y)) lower is in progress. Internal of wave ((y)) is unfolding as a double three structure and near term focus is for the completion of wave (w) towards 19329 - 19426 area, then Index should bounce in wave (x), ideally correcting 50 - 61.8 back of the decline from wave ((x)) high at 19840, before the decline resumes again.
If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.