The Nikkei rebounded on the 27th for the first time in 4 sessions, closing at ¥63,268.37 and breaking above its 5-day moving average for the first time in 3 weeks, suggesting that near-term downside risk had receded.
The Nikkei rebounded on the 27th for the first time in 4 sessions, rising from ¥199.82 above the previous day's level to as much as ¥1,495.04 higher. It ended at ¥63,268.37, with signs of short-term buying to cover short positions.
Although it moved above the 5-day moving average at ¥63,136.05, the 25-day and 75-day moving averages have not turned higher and continue to decline. The view remains that sellers continue to dominate the broader market.