SSE 50 Index (SSE50) Up 0.25%, is Inching Close to 200 Day Average; Pin Bar Pattern Appearing on Chart

The Hourly View for SSE50

Last Updated April 28, 2021, 03:019 GMT

Currently, SGX FTSE China A50’s price is down -6.97 (-0.2%) 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 a doji candlestick pattern on SGX FTSE China A50. Given that we see downtrend 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

3476.30176 was the closing price of the day for SSE 50 Index, resulting in today being one in which price moved up 0.25% ($8.64) from the day prior. Relative to other instruments in the equity indices asset class, SSE 50 Index ranked 3rd since the day prior in terms of percentage price change. The daily price chart of SSE 50 Index below illustrates.

SSE50

SSE 50 Index Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 15 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!