MMA Weekly Report Nikkei Stock Average by Raymond Merriman Oct.11 2021
1. Review
Last week the Nikkei stock average closed down 722 points from the previous week at 28,048. The week's high was 29,046 on Monday the 4th. The week's low was 27,293 on Wednesday the 6th. Although the week's low broke the weekly downside support line, the close stayed within the area of this support line, making the outlook mostly bearish. Furthermore, this closing value was below the Weekly Trend Indicator Point (TIP) for two consecutive weeks. However, the underlying trend remains broadly “neutral.”
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