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

The Hourly View for SSE50

Last Updated May 3, 2021, 02:019 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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

The choppiness in the recent daily price action of SSE 50 Index continues; to start today, it came in at a price of 3491.18774 US dollars, down 0.74% (26.02) since yesterday. Out of the 14 instruments in the equity indices asset class, SSE 50 Index ended up ranking 8th for the day in terms of price change relative to yesterday. Below is a daily price chart of SSE 50 Index.

SSE50

SSE 50 Index Technical Analysis

Moving average crossovers are always interesting, so let’s start there: 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 additional context, note that price has gone up 7 out of the past 14 days.