JP225: Fall or Rise?

JP225, Daily

In the Daily timeframe, JP225 started to rise after the reports were released and reached the global trend line. The price crossed the TEMA, indicating a rapid rise, but the price is testing the 61.8 Fibonacci. With %R indicating extreme overbought, however, there is an OB on the upside acting as a magnet.

A trend break above 36800, then JP225 will rise to 38200;

A bounce off the trendline will drop the price back to 35300.

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Author: Egor Schmidt

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