Nikkei dropped lower overnight. With price now testing graphical overlap resistance at our Pivot and 38.2% Fibonacci retracaement, a short term intraday drop towards our 1st support and Fibonacci confluence zone could be possible. Price is holding below moving average as well.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.