The Hourly View for ASX SPI 200
- At the time of this writing, AS51’s price is up 5.01 (0.07%) from the hour prior.
- ASX SPI 200 has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
- Of note is that the 100 hour changed directions on AS51; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
ASX SPI 200’s hourly price chart is shown below.
The Daily View for ASX SPI 200
- At the moment, AS51’s price is down -66.69 (-0.91%) from the day prior.
- This move is a reversal from the day prior, which saw price move up.
- As for the trend on the daily timeframe, we see the clearest trend on the 50 day 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 downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them so that price is now turning below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Below is a daily price chart of ASX SPI 200.