Nikkei 225 opens lower by 0.1%
Subdued start to the trading week
The Nikkei 225 is opening with a modest loss of 0.1% at 21094.96.
Looking at the daily chart, the index traded to the highest level since May 28th, but stalled just under the 100 day MA (blue line) at 21290.22. The high price on Tuesday reached 21259.70. Staying below that MA keeps the bears more in control. The index price is also below the 50 day MA (white line) and 200 day MA (green line) at 21691.21 and 21447.73 respectively. Looking at the daily chart, the index gapped below the 200 day MA and 50 day MAs on May 8th and has not been above since.... Bears in control below all the MAs.