The Hourly View for AS51
Last Updated June 10, 2021, 08:019 GMT
Currently, ASX SPI 200’s price is up 8 (0.11%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as ASX SPI 200 has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend 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
The back and forth price flow continues for ASX 200, which started today off at 7270.2 US dollars, 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. Or to view things another way, note that out of the past 14 days ASX 200’s price has gone up 9 them.