MMA Weekly Report Nikkei Stock Average By Raymond Merriman Nov.2 2020
1. Overview
Last week's market closed down 539 points from the previous week at 22,977. The week's high was 23,572 on Monday the 26th. The week's low was 22,948 on Friday the 30th. Therefore, because the close price broke below the weekly downside support line, it carried over the prior week's bearish trigger and became a continuation of bearish sentiment. This represents a run of bearish conditions. Furthermore, this closing price fell below the Weekly Trend Indicator Point (TIP) for the first time in four weeks. However, the overall tone remains poised to stay in a “neutral” state.
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