Published 2nd November 2018
The Nikkei 225 is the only index from all risky assets that we cover, which is likely to snatch another 52-week high. Despite favoring the red count by only 60/40, there is no other index on our list, which looks most probable to hit a new high right now.
The Japanese equity index bounced from the trend channel support, which carried price action to the upside since 2008. Most important, the drop unfolded as a three-wave sequence. It is likely to get retracted fully. The black alternative can unfold as a leading diagonal only.
All in all, the short-term swing, which started at the blue trend resistance looks not done. It is likely to extend further up.
The analysis above is a historical abstract of our Nikkei 225 Premium Analysis. Subscribers can access multiple timeframes, which are not displayed on this page.