TechnoMeter

• Nikkei 225 is on the secondary correction within the primary bullish market condition: the weekly price is crossing 100 SMA from above to below to be reversed from the primary bullish to the ranging bullish market condition to be located between 100 SMA/200 SMA area.
• "Nikkei 225 fell past 18,000 to test 23.6% Fibonacci at 17,847. Downtrend signal has resumed in moving averages after a correction period during late December. More short positions could be considered at any break of the Fibonacci."

If the price breaks 16985 support level to below so the reversal of the price movement to the primary bearish condition will be started with the secondary ranging.
If the price breaks 20035 resistance to above so the bullish trend will be continuing.
if not so the price will be ranging within the levels.

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