4-Hourly Chart Nikkei Potential Form Double Top Pattern
23 February 2012 08:14:01 WIB
Nikkei
Nikkei index out from the consolidation phase and succeed to meet our target in previously analysis. Currently on the 4-hourly chart of Nikkei seems potential form double top pattern with the baseline area at 9413. Any breaks the baseline area potential trigger a bearish acceleration aiming the support at 9313 until 9233. That projection is also reinforced by CCI and stochastic was on the overbought area and likely down. However if the resistance at 9575 penetrate, the pattern is failed and the movement potential up aiming the next resistance at 9737.
Kospi
Kospi index have a significant correction in the early trading session today. Technically the bias of Kospi is likely bearish aiming the support at 262.60. That projection also confirmed by stochastic movement was likely down. Any breaks the support potential trigger the further correction aiming the next support at 260.78. On the contrary if the support at 262.60 holds, any chances for a pullback to the resistance at 264.42 up to the trendline area.
