SSE 50 Index (SSE50) 2 Day Down Streak Broken, in an Uptrend Over Past 90 Days; Price Base in Formation Over Past 30 Days

The Hourly View for SSE50

Last Updated October 16, 2020, 00:05 GMT

Currently, SSE50’s price is down $-8.15 (-0.24%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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 hour moving average, resulting in them so that price is now turning below it. 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.

SSE 50 Index Daily Price Recap

The back and forth price flow continues for SSE 50 Index, which started today off at 3371.4014 US dollars, up 0.06% (1.9) from yesterday. Out of the 14 instruments in the equity indices asset class, SSE 50 Index ended up ranking 3rd for the day in terms of price change relative to yesterday. The daily price chart of SSE 50 Index below illustrates.

SSE50

SSE 50 Index 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. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days SSE 50 Index’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!