The Hourly View for AS51
Last Updated April 30, 2021, 03:018 GMT
At the moment, ASX SPI 200’s price is down -7 (-0.1%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as ASX SPI 200 has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning below it. 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 came into today up 0.25% (17.6) from the open of the previous day, marking the 2nd straight day an upward move has occurred. Out of the 14 instruments in the equity indices asset class, ASX 200 ended up ranking 7th for the day in terms of price change relative to the previous day. Below is a daily price chart of ASX 200.
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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days.