It looks like Japan's Nikkei e-mini Futures Index (
NKD) may well be on its way down to its next confluence support level of
12600, as I discussed in my post of
May 24th, and as shown on the
Weekly chart below. There is the potential for a bearish
3 Black Crows candle pattern to form, depending on where this week's candle closes. A close near its low this week, technically, portends further weakness.
A failure to hold that level, could send it down to
11500ish, or lower.
***UPDATE Thursday, June 6th @ 12:30 pm EDT: Here's an update of the
Weekly chart of the
NKD as of today's continued drop...low of the day, so far, is now
12310...low of the day, so far, on
USD/JPY is now
95.89.
