MMA Weekly Report Nikkei Stock Average By Raymond Merriman Oct.26 2020
1. Review
Last week's market closed up 106 points from the previous week at 23,516. The week's high was 23,707 on Wednesday the 21st. The week's low was 23,436 on Thursday the 22nd. Therefore, although the price exceeded the weekly resistance on the high, it retraced by the close, triggering a bearish signal. However, the week's close price has surpassed the Weekly Trend Indicator Point (TIP) for three consecutive weeks. Still, on a weekly basis the close was a bearish candle, so the bias can still be considered “neutral.”
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