Is Momentum Changing for SGX FTSE China A50? Price Just Crossed Below Its 20 Day Moving Average

The Hourly View for SGX FTSE China A50

  • Currently, SSE50’s price is down -1.7 (-0.05%) from the hour prior.
  • SGX FTSE China A50 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on SGX FTSE China A50. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 and 10 hourly candle timeframe, so the meaning of the candles may require further exploration.
  • 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.

SGX FTSE China A50’s hourly price chart is shown below.

SSE50

The Daily View for SGX FTSE China A50

  • At the moment, SSE50’s price is up 54.86 (1.74%) from the day prior.
  • SGX FTSE China A50 has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, with price now being above it. The moving averages on the daily 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.
  • Divergence between SSE50’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in SSE50’s price.

Below is a daily price chart of SGX FTSE China A50.

SSE50