The Hourly View for AS51
Last Updated June 7, 2021, 17:19 GMT
At the time of this writing, ASX SPI 200’s price is up 1 (0.01%) from the hour prior. This is the 2nd straight hour ASX SPI 200 has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on ASX SPI 200. Given that we see an uptrend on the 20 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 is up 0.49% (35.3) since the day prior, marking the 3rd straight day it has gone up. Out of the 14 instruments in the equity indices asset class, ASX 200 ended up ranking 2nd for the day in terms of price change relative to the day prior. The daily price chart of ASX 200 below illustrates.
ASX 200 Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 19 out of the past 30 days.