Nikkei 225 - 3rd Wave

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 Nikkei 225 daily chart


Analysis

As seen in the above chart, the index after moving in a diamond pattern for over 2 years has finally given a bullish break thereby opening positive possibilities. ADX which was below 20 has also moved well above 20 suggesting that strength of the trend is getting stronger.

From Waves perspective, the index has opened wave 3 on the higher side which can go till 31300-31500 price range which is 161.8% of wave 1 to wave 2. 

The summation is Nikkei 225 is positively poised and can soar till 31300-31500 levels over short to medium term.

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