NIKKEI 225 (NKY) Tops All equity indices, Heads Up For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days

The Hourly View for NKY

Last Updated January 12, 2021, 02:019 GMT

At the moment, NIKKEI 225’s price is down -29.96 (-0.11%) 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 20 hour timeframe. 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

NIKKEI 225 closed the day prior up 2.36% (648.9); this denotes the 2nd consecutive day an increase has occurred. On a relative basis, today was pretty good: NIKKEI 225 bested all 14 of the assets in the equity indices class 🙂 Below is a daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that NIKKEI 225’s price has gone up 5 of the previous 10 trading days.