The Nikkei is trading around 27,629, up by 0.4%

After ending the previous trading day at 27,518, the Nikkei went up to 27,737 only to drop back; still positive overall today, now trading at 27,629.

Nikkei's lower Bollinger Band® is at 27,137, indicating that the market is oversold and fertile for new buyers. On the other hand, note that although up today, early price action saw the Nikkei dropping below its 3 day Simple Moving Average at 27,600 — an early indicator that a new downward trend could be emerging. The Nikkei could be slowing down soon; it is getting close to the resistance line and is now at 27,800, only 164.65 points away. Crossing the resistance line could, however, suggest that further gains are ahead.

The Nikkei continues to move higher with technical analysis indicating the trend will continue in the short term.

The Nikkei shows positive signs, other assets are also on par: FTSE gained 1.03% and is currently trading at 7,741.56. KOSPI Composite Index added 0.9% to its value, now trading at 2,512.73. Nasdaq increases 0.76% to trade around 12,100.

The index has been trending lower for about a month. The Nikkei hit a significant low of 15.42 around 6 months ago, but has since recovered 178,359%.