NIKKEI 225 Does it Again: Heads Down for the 8th Straight Day

The Hourly View for NIKKEI 225

  • At the moment, NKY’s price is down -20.12 (-0.07%) from the hour prior.
  • NIKKEI 225 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • 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 pin bar candlestick pattern 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.
  • 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.

NIKKEI 225’s hourly price chart is shown below.

NKY

The Daily View for NIKKEI 225

  • At the moment, NKY’s price is down -293.25 (-1.05%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as NIKKEI 225 has now gone down 9 of the past 10 days.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Of note is that the 50 day changed directions on NKY; it is now pointing down. 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.

NKY

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