The Hourly View for AS51
Last Updated May 6, 2021, 03:018 GMT
At the time of this writing, ASX SPI 200’s price is down -10 (-0.14%) from the hour prior. ASX SPI 200 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 100 hour changed directions on AS51; it is now pointing down. 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 0.39% (27.9) since yesterday, marking the 3rd day in a row an upward move has occurred. Relative to other instruments in the equity indices asset class, ASX 200 ranked 7th since yesterday in terms of percentage price change. The daily price chart of ASX 200 below illustrates.
ASX 200 Technical Analysis
Volatility for ASX 200 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days ASX 200’s price has gone up 9 them.