On 17 September, the Nikkei Average extended its advance, opening ¥720.58 higher than the previous day and closing ¥213.25 higher, as it traded near its high. The close moved above the five-day moving average, while the Parabolic bullish reversal level approached ¥64,748.32 from the day's high.
On 17 September, the Nikkei Average extended its advance, opening ¥720.58 higher than the previous day and maintaining a high level after closing ¥213.25 higher. The candlestick formed a bearish opening marubozu with no upper shadow, but the close moved above the five-day moving average, suggesting that selling pressure had eased.
The Parabolic bullish reversal level has declined to ¥64,748.32, ¥104.74 above the day's high, and a buy signal is expected to begin flashing as early as tomorrow.
The Nikkei Average has raised its lows for 3 consecutive days, but the 25-day and 75-day moving averages continue to decline, warranting attention to the risk that the recent price recovery may prove to be a false signal.