ASX SPI 200 Does it Again: Heads Up for the 2nd Straight Day

News Releases Impacting ASX SPI 200

  • Forecasted Wage Price Index YoY in Australia: 2.2%. The previous number: 1.7%. (29.41% difference between the two.)

The Hourly View for ASX SPI 200

  • At the time of this writing, AS51’s price is down -4.01 (-0.05%) from the hour prior.
  • This is the 2nd hour in a row ASX SPI 200 has seen its price head down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 20 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 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.

AS51

The Daily View for ASX SPI 200

  • At the time of this writing, AS51’s price is up 20.08 (0.27%) from the day prior.
  • This is the 2nd day in a row ASX SPI 200 has seen its price head up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • 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.
  • Divergence between AS51’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in AS51’s price.

Below is a daily price chart of ASX SPI 200.

AS51