SGX FTSE China A50 Does it Again: Heads Up for the 2nd Straight Day

The Hourly View for SGX FTSE China A50

  • At the moment, SSE50’s price is up 4.01 (0.12%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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 up 20.15 (0.62%) from the day prior.
  • The daily chart shows that SGX FTSE China A50 has seen 2 straight up days.
  • Regarding the trend, note that the strongest trend exists on the 50 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 an uptrend on the 10 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.

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

SSE50

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