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NIKKEI 225 (N225) Elliott Wave Technical Analysis Daily Chart. NIKKEI 225 Elliott Wave technical analysis Function: Bullish Trend. Mode: Impulsive. Structure: Orange Wave 3. Position: Navy Blue Wave 3. Direction next lower degrees: Orange Wave 4. Details: Orange wave 2 appears complete, with orange wave 3 of navy blue wave 3 now unfolding. Wave cancel invalidation level: 38,270. The NIKKEI 225 index is displaying a bullish trend, as revealed by Elliott Wave analysis on the daily chart. The market is in an impulsive phase, with orange wave three actively progressing within the larger navy blue wave three structure. This phase highlights strong upward momentum and signifies the continuation of the broader bullish cycle. Key Wave analysis: Orange Wave Two:Orange wave two seems to have completed, setting the stage for the emergence of orange wave three. Orange Wave Three:As an impulsive wave, orange wave three typically represents the most robust and dynamic phase of the trend, characterized by notable price increases. Upon its completion, orange wave four is expected to follow as a temporary corrective pullback before the bullish trend resumes with orange wave five. Invalidation level: The wave structure’s invalidation level is set at 38,270. If the index drops below this level, the current wave scenario will be invalidated, requiring a reassessment of the technical outlook. This threshold is critical for confirming the validity of the ongoing wave pattern. Summary: The NIKKEI 225 index is in a strong bullish trend, with orange wave three actively developing as part of the broader navy blue wave three. This phase signifies a period of intensified upward momentum, supported by the completion of orange wave two. The progression of orange wave three is key to affirming the market’s continued bullish trajectory. Orange wave four is anticipated as the next corrective phase. The invalidation level at 38,270 serves as a vital benchmark for maintaining the Elliott Wave structure’s integrity and assessing future price movements. NIKKEI 225 (N225)…

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Filed under: News - @ January 14, 2025 8:27 am