The Hourly View for NKY
Last Updated May 3, 2021, 02:018 GMT
Currently, NIKKEI 225’s price is down -9.96 (-0.03%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NIKKEI 225 has now gone down 5 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NIKKEI 225. Given that we see downtrend on the 20 and 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
28812.63 was the closing price of the day for NIKKEI 225, resulting in today being one in which price moved down 0.83% ($241.34) from the previous day. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 11th for the day in terms of price change relative to the previous day. The daily price chart of NIKKEI 225 below illustrates.
NIKKEI 225 Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 10 days NIKKEI 225’s price has gone up 5 them.