Nikkei 225 : 7000 is a major LT support

On a long term basis the Nikkei 225 has huge support at and near 7800. If this level is taken out it will be a very bad sign for both the market, with little support from here to 6900-7000.

Nikkei futures are currently trying to bounce a tad, but there does not seem to be strong buying. We are monitoring the Nikkei futures as a key global indicator for now, a 15 minute chart of which can be seen below.

 

 

 

 

 

 

 

 

 

 

 

 

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