NIKKEI 225 (NKY) Up 0.74%, Crosses 50 and 100 Day Moving Averages; Pin Bar Pattern Appearing on Chart

The Hourly View for NKY

Last Updated June 15, 2021, 02:018 GMT

At the moment, NIKKEI 225’s price is down -24.91 (-0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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

29161.8 was the closing price of the day for NIKKEI 225, resulting in today being one in which price moved up 0.74% ($213.07) from the previous day. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 3rd for the day in terms of price change relative to the previous day. The daily price chart of NIKKEI 225 below illustrates.

NKY

NIKKEI 225 Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NIKKEI 225 crossed above its 50 and 100 day moving averages yesterday. 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 17 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!