The Hourly View for NKY
Last Updated February 18, 2021, 00:019 GMT
At the moment, NIKKEI 225’s price is up 10 (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend 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 an uptrend on the 20 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 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 up 1.28% (383.6); this denotes the 2nd consecutive day an upward move has occurred. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 3rd since yesterday in terms of percentage price change. 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 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that NIKKEI 225’s price has gone up 10 of the previous 14 trading days.