Nikkei 225: Negative divergence offers fresh sell entries
After placing the significant peak of 20263.00, Nikkei 225 has achieved consecutive declines, influenced by the triple negative divergence on MACD traditional as seen on the provided daily chart.
The clue for short-term Nikkei 225 traders reside in the 18910.00 regions, as a breakout below it will actuate bears to add more quantities for their short positions.
We will be watching the index until it clears the aforementioned support to enter the market selling the index with targets at 18085.00.
It is worth mentioning that, the support of 18910.00 intersects with the 23.6% Fibonacci retracement of the short-term upside wave started in the second week of October at 14370.00.