Nikkei 225 wedge

Fig 1 Nikkei 225 Daily Chart

I looked at the chart of Nikkei225 and noted a wedge formation. Nikkei has not yet broken the envelop and it is very close. I made a simple wave count and noted a complete a-e waves.

So the chance of Nikkei breaking the envelop is relatively higher. The issue with this forecast are the two indicators which are at the bottom turning up. the indicators may still be showing a correction (up) instead of reversal. It is getting close to the Gann Grid negative slope, so the pressure of it coming down is high.

The wedge target is 8,359. To get there,Nikkei needs to cross the envelop at round 10,995.