ASX 200 (AS51) 4 Day Up Streak Snapped; in an Uptrend Over Past 14 Days

The Hourly View for AS51

Last Updated November 23, 2020, 02:018 GMT

At the moment, AS51’s price is down -16.99 (-0.26%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as AS51 has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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’s 4 day positive streak has officially concluded, as the candle from the previous day closed down 0.12% (8). Relative to other instruments in the equity indices asset class, ASX 200 ranked 10th since the previous day in terms of percentage price change. Below is a daily price chart of ASX 200.

AS51

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 10 out of the past 14 days.