Technical Analysis – JP225 index slumps to oversold area; key support ahead

Japan’s 225 stock index has been unable to clear the heavy resistance around the 50% Fibonacci extension of the long donwleg from 24,472 to 19,239, with the price falling forcefully below its simple moving averages (SMA) and the Ichimoku cloud over the past week. The RSI and the Stochastics suggest that negative momentum could stall in the short-term as both […]