NIKKEI 225 Does it Again: Heads Up for the 2nd Straight Day

The Hourly View for NIKKEI 225

  • Currently, NKY’s price is up 30 (0.1%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as NIKKEI 225 has now gone up 4 of the past 5 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 an uptrend on the 20, 10 and 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

NIKKEI 225’s hourly price chart is shown below.

NKY

The Daily View for NIKKEI 225

  • Currently, NKY’s price is up 256.25 (0.86%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as NIKKEI 225 has now gone down 8 of the past 10 days.
  • 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.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on NIKKEI 225. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • 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.

NKY