The Hourly View for NIKKEI 225
- At the time of this writing, NKY’s price is down 0 (0%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as NIKKEI 225 has now gone down 5 of the past 5 hours.
- Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
- Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on NIKKEI 225. Given that we see downtrend on the 5 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 NKY; it is now pointing up. 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 497.43 (1.82%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- Regarding the trend, note that the strongest trend exists 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 NKY’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NKY’s price.
Below is a daily price chart of NIKKEI 225.