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

The Hourly View for NKY

Last Updated June 17, 2021, 02:019 GMT

At the moment, NIKKEI 225’s price is down -36.27 (-0.13%) from the hour prior. NIKKEI 225 has seen its price go down 9 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being below 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 back and forth price flow continues for NIKKEI 225, which started today off at 29291.01 US dollars, down 0.51% (150.29) from the day prior. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 9th since the day prior 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 additional context, note that price has gone up 17 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.