Capital Trust
Capital Trust
images

Dec 10, 2016

04:03 AM EDT


  • New York close
  • London close
  • Tokyo close
  • Sydney close
Market Analysis

Home » Technical Analysis » NIKKEI 225 Short-Term Elliott Wave Analysis – May 20, 2015

NIKKEI 225 Short-Term Elliott Wave Analysis – May 20, 2015

Posted by EWF in Technical Analysis - May 20th, 2015 2:54 am GMT

chart1

The decline to 19054 completed wave ((X)), and the Index has since resumed the rally in wave W in the form of a double correction ((w))-((x))-((y)) where wave ((w)) ended at 19865, wave ((x)) ended at 19495, and wave ((y)) is in progress towards 20314 – 20507. Expect some profit taking from the 20314 – 20507 area and the Index to pull back 3 waves lower in wave X to correct the rally from 19054. We do not like selling the proposed wave X pullback. As far as the 19054 pivot holds in the pullback, buyers should come again for the next leg higher once wave X pullback is complete in 3, 7, or 11 swings.

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.

Share!Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+

No comments yet.

You must be logged in to post a comment.

Forex, Commodities, Indices

Daily Updates

Daily Updates


Get the latest fundamental analyses, technical analyses and the most up-to-date Forex news catered to your interests, everyday.