Nikkei 225 Truncation and Elliott Wave forecasting

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 Nikkei 225 daily chart


Analysis

From the above chart, Nikkei 225 has completed five waves up in which third wave was the biggest wave and that is the reason fifth wave was a truncation or a fifth failure. Now since five waves are completed chances are much higher that correction will follow which can drag prices below its previous sing ow placed at 31250 levels.

The summation is Nikkei 225 is firmly negative and can sink towards 31250-31000 price range over short term.


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