SSE 50 Index (SSE50) Down 0.74%; Breaks Below 20 Day Average

The Hourly View for SSE50

Last Updated May 6, 2021, 03:019 GMT

Currently, SGX FTSE China A50’s price is down -55.33 (-1.58%) from the hour prior. SGX FTSE China A50 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100, 20 and 50 hour moving averages have been crossed, so that price is now turning below them. 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

3491.18774 was the closing price of the day for SSE 50 Index, resulting in today being one in which price moved down 0.74% ($26.02) from the day prior. Out of the 14 instruments in the equity indices asset class, SSE 50 Index ended up ranking 13th for the day in terms of price change relative to the day prior. Let’s take a look at the daily price chart of SSE 50 Index.

SSE50

SSE 50 Index Technical Analysis

First things first: SSE 50 Index crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 30 days SSE 50 Index’s price has gone down 16 them.