SGX FTSE China A50 Does it Again: Heads Down for the 4th Straight Day

News Releases Impacting SGX FTSE China A50

  • Forecasted Retail Sales YoY in China: 3.5%. The previous number: 4.4%. (20.45% difference between the two.)

The Hourly View for SGX FTSE China A50

  • At the moment, SSE50’s price is up 3.35 (0.1%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as SGX FTSE China A50 has now gone up 5 of the past 5 hours.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on SGX FTSE China A50. Given that we see an uptrend on the 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 20 hour changed directions on SSE50; it is now pointing up. 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.

SGX FTSE China A50’s hourly price chart is shown below.

SSE50

The Daily View for SGX FTSE China A50

  • At the time of this writing, SSE50’s price is down -16.55 (-0.52%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as SGX FTSE China A50 has now gone down 8 of the past 10 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on SGX FTSE China A50. Given that we see downtrend on the 20, 10 and 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily 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.
  • Divergence between SSE50’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in SSE50’s price.

Below is a daily price chart of SGX FTSE China A50.

SSE50