JP225: Ascending Channel

JP225, Daily

In the Daily timeframe, JP225, in a long-term uptrend, has formed an ascending channel pattern. The price fell to the lower trendline, testing the critical resistance of MA50 and MA100. Two scenarios are possible in this case.

• If the bears push the price below the 39300 trend line and moving averages, the bearish trend will start to 37100;

• A rebound from the trend line will take JP225 back to 41200;