Technical forecast for Topix

topix

Topix edged higher to 1239 & above 1240 look for 1256. This is very strong longer term resistance & should present a big challenge to bulls, even in this steep bull trend. Exit longs & try shorts with stops above 1260.

We are overbought in the short term & on daily charts so a dip down to support at 1216/15 is possible. Below here 1206/03 could be a good buying opportunity this week.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More