A quick look at today: bullish sentiment helped the Nikkei to push 155.21 points higher, reaching session highs around 28,200, before consolidating until close. Ultimately, the Nikkei closed today at 28,100.
Visual analysis of the Nikkei's chart shows that Nikkei could be slowing down soon as it approaches resistance at 28,252. Of course, crossing it might suggest further gains are ahead. Trend and momentum analysis indicates that the MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at 28,372, thereby suggesting that the Nikkei is becoming overvalued.
All in all, the technical analysis suggests the Nikkei has no clear-cut direction.
The Nikkei shows positive signs, other assets are also on par: FTSE added 1.06% and closed around 7,377 today. Dow Jones increases 0.88% today and closed at 33,700.
At the same time, after ending today's session at 17,656, Hang Seng lost 231.5 points and is trading around 17,424.
The index has been trending positively for about a month. Having set a significant high of 29,774 2 months ago, the Nikkei is trading 181,124% lower.