Asian stock indices are trading in various directions today. Friday was a bearish day for the markets.
As of today’s morning, the situation looked the following way:
· Nikkei 225: -0,52% down to 8824,07.
· S&P/ASX 200: -0,07% down to 4287,02.
· KOSPI: +0,38% up to 1996,21.
So far, most stock indices around the globe have been bearish today. Oil stocks are losing value as well.
Friday was a bearish day for European and US stock indices as well. Will these stocks manage to close today’s trading session in the green zone? This remains to be seen.
The chart below, courtesy of , reflects the current state of affairs in the market of Nikkei 225: The index has already broken below the local low at 8821, thus confirming the wave-5 scenario. The short-term forecast suggests the end of wave 5of [c] and the start of a new rally. The closest level of support is 8631.
