The Hourly View for NIKKEI 225
- At the time of this writing, NKY’s price is down -40.29 (-0.14%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as NIKKEI 225 has now gone down 4 of the past 5 hours.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
- Price action traders may also wish to note that we see a doji candlestick pattern on NIKKEI 225. 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.
- Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them with price now being below it. The moving averages on the hourly 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.
NIKKEI 225’s hourly price chart is shown below.
The Daily View for NIKKEI 225
- At the time of this writing, NKY’s price is up 628.6 (2.25%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 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.
Below is a daily price chart of NIKKEI 225.