NIKKEI 225 Enters Today Down -0.52%

The Hourly View for NIKKEI 225

  • At the time of this writing, NKY’s price is down 0.11 (0%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • 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 10 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 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

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  • It’s been a feast for bears operating on the daily timeframe, as NIKKEI 225 has now gone down 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • 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