The Nikkei 225 rose for a third straight trading session on 13 August, closing in the ¥68,000 range. The candlestick chart formed three consecutive bullish candles, suggesting that the 25-day moving average would continue to rise.
The Nikkei 225 rose for a third straight trading session on 13 August. The index closed ¥784.53 higher than the previous day, ending trading in the ¥68,000 range. The candlestick chart formed three consecutive bullish candles, while both the intraday high and low moved higher.
The market was said to have formed a Three White Soldiers pattern, indicating strengthening buying momentum. The pattern is considered to show the strength of the bulls and is viewed as a sign of a short-term bullish phase.
Among the technical indicators, the 25-day moving average turned upward, suggesting the market had entered an uptrend. Based on the day’s price action, attention is also focused on the possibility of a bullish Ichimoku three-line confirmation following a breakout above the cloud.
On the Ichimoku Cloud, a bullish signal emerged on the lagging span, and the conversion line broke above the base line, indicating an improvement in market tone. The market’s subsequent performance will remain a focus.