Capital Trust
Capital Trust

Dec 08, 2016

03:29 PM EDT

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

Home » Technical Analysis » NIKKEI Short-Term Elliott Wave Analysis – May 28, 2015

NIKKEI Short-Term Elliott Wave Analysis – May 28, 2015

Posted by EWF in Technical Analysis - May 28th, 2015 3:08 am GMT


The decline to 19054 completed wave ((X)), and the Index has since resumed the rally in the form of a triple correction (W)-(X)-(Y)-(X)-(Z) where wave (W) ended at 19865, wave (X) ended at 19495, wave (Y) ended at 20590, second wave (X) ended at 20318, and wave (Z) is currently in progress towards 20963 – 21999.

The wave (Z) rally from 20318 ended the first leg at 20685 as wave ((w)). The Index is currently in a wave ((x)) pullback, ideally towards 20408 – 20502 before the rally resumes. We do not like selling the proposed wave ((x)) pullback. As far as the 20318 pivot holds in the wave ((x)) pullback, expect buyers to come for 3 waves higher at minimum to correct the decline from 20685 per Elliott Wave hedging idea.

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.