NIKKEI 225 (NKY) Heads Down For the 2nd Day In A Row; Crosses 100 Day Moving Average

The Hourly View for NKY

Last Updated June 18, 2021, 01:013 GMT

Currently, NKY’s price is up 75.18 (0.26%) from the hour prior. NKY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 50 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

NIKKEI 225 closed yesterday down 0.93% (272.68); this denotes the 2nd day in a row a decrease has occurred. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 13th for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

First things first: NIKKEI 225 crossed below its 100 day moving average 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that NIKKEI 225’s price has gone down 6 of the previous 10 trading days.