ASX SPI 200 Trend May Be Changing as Price Just Breached Above Its 100 Day Moving Average

News Releases Impacting ASX SPI 200

  • Actual Consumer Inflation Expectations in Australia: 4.6%. The previous number: 3.6%. (27.78% difference between the two.)

The Hourly View for ASX SPI 200

  • Currently, AS51’s price is up 2 (0.03%) from the hour prior.
  • ASX SPI 200 has seen its price go up 5 out of the past 5 hours, thus creating some compelling opportunities for bulls.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
  • Price action traders may also wish to note that we see a pin bar 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.
  • Of note is that the 20 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.

AS51

The Daily View for ASX SPI 200

  • Currently, AS51’s price is down -42 (-0.57%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as ASX SPI 200 has now gone down 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 and 20 day moving averages have been crossed, so that price is now turning below them. 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