Chart of the day

Nikkei is testing a historical high of 39100. A rejection here and a break below 37500 will lead to a downside extension and will mark the fifth wave as over.

Only in the case of a clear confirmed break above 39100, we can see an immediate upside extension to 46000. A break below 37500 will lead to a complete downside extension and a test of the important 34000 upside support

_{Long trades could be opened here only upon a confirmed break above 3910. Short trades have a possible better risk to reward and you can open it up on a break below 37500. This can be traded with options as well.}