NIKKEI 225 (NKY) Down 0.09%; is Inching Close to 20 Day Average

The Hourly View for NKY

Last Updated October 27, 2020, 00:05 GMT

Currently, NKY’s price is down $-10 (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NKY has now gone down 4 of the past 5 hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Price action traders may also wish to note that we see a pin bar candlestick pattern on NKY. Given that we see downtrend on the 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 choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NIKKEI 225 Daily Price Recap

NIKKEI 225 entered today at 23494.34, down 0.09% ($22.25) from the previous day. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 2nd since the previous day in terms of percentage price change. Below is a 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. 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. Or to view things another way, note that out of the past 10 days NIKKEI 225’s price has gone up 5 them.