SGX FTSE China A50 Just Breached This Major Moving Average Level

News Releases Impacting SGX FTSE China A50

  • Forecasted Exports YoY in China: 20%. The previous number: 22%. (9.09% difference between the two.)

The Hourly View for SGX FTSE China A50

    SSE50’s 3222.5713 price in the hour prior was especially unusual given the typical amount recorded over the past 30 hour.

  • This move is a reversal from the hour prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning below them. 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.

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 21.78 (0.68%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, so that price is now turning above it. 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