Is Momentum Changing for Hang Seng? Price Just Crossed Above Its 200 Day Moving Average

The Hourly View for Hang Seng

  • At the time of this writing, HSI’s price is up 139 (0.54%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • 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.

Hang Seng’s hourly price chart is shown below.

HSI

The Daily View for Hang Seng

  • At the moment, HSI’s price is down -392.1 (-1.5%) from the day prior.
  • Hang Seng has seen its price go down 10 out of the past 10 days, thus creating some compelling opportunities for bears.
  • 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 day timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 100, 200 and 50 day moving averages, resulting in them 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 HSI’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in HSI’s price.

Below is a daily price chart of Hang Seng.

HSI

Featured Hang Seng Idea From TradingView

Below is a trading comment entitled 🆕 GBPUSD Short Execution | SteadyTrade Ai 10:10:20 (UTC) you may find interesting:

With further inflation data coming from Europe, the US CPI report will be hotly anticipated by investors. With SaaS, users don’t need to install or update any software. Instead, users can log in through the Internet or web browser and connect to the service provider’s network to access the particular service. Last week, the British Pound lost its two-week run against the US Dollar after a little price decrease. Despite the negative warning produced by a Death Cross pattern in early September, bears were unable to gain control, leading to a bearish breakdown in the S&P 500. The 50- and 200-day Simple Moving Averages are presently trading above the price (SMA). Last week, the British Pound (GBP) enjoyed a near 1% advance against the Australian Dollar (AUD). Back-to-back losses pushed the currency pair to positive activity. Since the peak of May 2020, prices have fallen sharply. An upward reversal, indicated by a bullish engulfing candlestick formation on the 8-hour chart, occurred early last week. Last week, the GBP/AUD pair reversed after piercing a downward trendline from its August high. Bulls further boosted prices, rising over the 50-day SMA. Fibonacci retracement 38.2% seems to be giv…

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