NIKKEI 225 is on a Tear — Due for a Pullback?

The Hourly View for NIKKEI 225

  • At the moment, NKY’s price is down 0 (0%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • 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 a pin bar 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.
  • 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

  • At the moment, NKY’s price is down -173.02 (-0.57%) from the day prior.
  • 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

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