The Nikkei 225 JUN'09 contract is poised for a challenge to major directional resistance whose reaction will point the way to the next 2-3 month move.
9710 is the Inflection Pivot to focus on.
If the Index is going to re-visit this years low area at 6960 the MKT will reject here. If we get a decisive rejection that will be the objective. A lackluster stagnant trade following a challenge to the 9710 area and we may be in for an early sideways summer trade with 8060 the digestive low.
A held violation of 9710 with a Daily close above 9830 will put the 11000 and 12180 targets in reach. Reactions should be expected.
JS
