NIKKEI 225 (NKY) 2 Day Up Streak Broken; Pin Bar Pattern Appearing on Chart

The Hourly View for NKY

Last Updated June 17, 2021, 10:18 GMT

At the time of this writing, NIKKEI 225’s price is up 45.1 (0.16%) from the hour prior. This is the 3rd hour in a row NIKKEI 225 has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, so that price is now turning above it. 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 Daily Price Recap

The choppiness in the recent daily price action of NIKKEI 225 continues; to start today, it came in at a price of 29291.01 US dollars, down 0.51% (150.29) since yesterday. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 9th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

Volatility for NIKKEI 225 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. For another vantage point, consider that NIKKEI 225’s price has gone up 7 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.