The Hourly View for AS51
Last Updated June 10, 2021, 18:19 GMT
At the moment, ASX SPI 200’s price is up 8 (0.11%) from the hour prior. ASX SPI 200 has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on ASX SPI 200. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
ASX 200 Daily Price Recap
ASX 200 entered today at 7270.2, down 0.31% ($22.4) from the day prior. Relative to other instruments in the equity indices asset class, ASX 200 ranked 9th since the day prior in terms of percentage price change. Below is a daily price chart of ASX 200.
ASX 200 Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that ASX 200’s price has gone up 19 of the previous 30 trading days.