SSE 50 Index (SSE50) Down 0.74%; Crosses 20 Day Moving Average

The Hourly View for SSE50

Last Updated May 4, 2021, 04:019 GMT

Currently, SGX FTSE China A50’s price is down -1.42 (-0.04%) 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. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on SGX FTSE China A50. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 yesterday. Out of the 14 instruments in the equity indices asset class, SSE 50 Index ended up ranking 12th for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of SSE 50 Index.

SSE50

SSE 50 Index Technical Analysis

Notably, SSE 50 Index crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For another vantage point, consider that SSE 50 Index’s price has gone up 7 of the previous 14 trading days.