Topix Forecast for 3rd June 2013

Topix daily chart still looking negative but we should find good support at 1097 this week. We could hope for a bounce but need stops on longs below 1090 for next support at 1078. Exit shorts & try longs here with a low for the week likely.

Resistance at 1134/36 today could hold the topside. However a push higher could then target 1152 where it may be wise to exit longs & try shorts with stops above 1159 as we look for a high for the day here.