Technical forecast for 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.