Nikkei H1 is apaporaching a key resistance level at 29030 which is a 61.8% Fibonacci retracement, a strong horizontal overlap resistance and also a level where strong price action pushed price strongly lower previously.A reversal from this level could see prices make a push down to 28700 area where our 1st support is - this also happens to be in line with a major horizontal pullback support and a 61.8% fibonacci retracement.Disclaimer: Thematerial provided is for information purposes only and should not be consideredas investment advice. The views, information, or opinions expressed in the textbelong solely to the author, and not to the author’s employer, organization,committee or other group or individual or company.High Risk Warning: CFDsare complex instruments and come with a high risk of losing money rapidly dueto leverage. 73% and 65% of retail investor accounts lose money when tradingCFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You shouldconsider whether you understand how CFDs work and whether you can afford totake the high risk of losing your money.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nikkei-h1-approaching-key-resistance-potential-reversal"
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