Nikkei 225 breaks higher, targets 49,300 – Société Générale
Source Fxstreet
The Nikkei 225 has surged past its September high with an upward gap, reinforcing bullish momentum. While the move appears stretched, there are no clear signs of a meaningful correction, Société Générale's FX analysts note, Société Générale's FX analysts note.
Uptrend strengthens as Nikkei gaps above September high
"Nikkei 225 has crossed above the upper part of recent brief consolidation and September high with a gap. The move looks a bit stretched however signals of a meaningful pullback are not yet visible."
"In case a short-term decline materializes, the peak of September near 45800pts could be an important support. The next projections are situated at 49300pts, which is also the upper limit of a steep ascending channel and 50800pts."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
Gold (XAU/USD) continues scaling new record highs during the Asian session on Tuesday and climbs beyond the $3,250 level amid a supportive fundamental backdrop.
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
Copper prices rose for the third consecutive session on Friday and are set for a weekly gain.
