The Nikkei Stock Average has struggled to rise, forming a bearish candle with a long upper shadow. Technical analysis describes this pattern as suggesting weakening upward price pressure.
Technical analysis of the Nikkei Stock Average is provided based on the formation of a bearish candle with a long upper shadow. Selling pressure that is capping gains is said to remain to some extent, with short-term gains showing signs of stalling.
The analysis refers to a candlestick with a long upper shadow, explaining that it appears when buying momentum is weak even if the closing price is near the high. This pattern is said to indicate uncertainty over the continuation of the uptrend.