Today’s trading session has been bearish for Asian-Pacific stock indexes so far. Investors are worried that European leaders may fail to resolve the eurozone debt crisis.
· MSCI Asia Pacific lost 0,6%, thereby declining down to 118,47
· Nikkei 225 lost 0,80%
· Kospi стал - 0,23%
· SP/ASX 200 - 0,13%
· Hang Seng - 0,62%
Panasonic Corp. saw its stock depreciating by 2% after Moody's Investor service cut its credit rating down to "Baa1".
The chart below, courtesy of , reflects the current state of affairs in the market of Nikkei 225. Last trading session, the index retraced deeply in the form of wave [ii] or [ b ], a simple zigzag pattern. In order to initiate another upswing represented by wave 3, minor charts should start drawing preparatory moves. The critical level for the scenario is the support level located at 8648.
