The Hourly View for SSE50
Last Updated September 21, 2020, 12:57 GMT
At the time of this writing, SSE50’s price is down -2.38 (-0.07%) from the hour prior. SSE50 has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on SSE50. 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. With that said, traders should also note the downtrend on the 5 hourly candle timeframe, so the meaning of the candles may require further exploration. 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
3347.7783 was the closing price of the day for SSE 50 Index, resulting in today being one in which price moved up 2.55% ($83.09) from yesterday. SSE 50 Index outperformed all 14 assets in the equity indices asset class since yesterday. Congrats to its holders! Here is a daily price chart of SSE 50 Index.
SSE 50 Index Technical Analysis
Notably, SSE 50 Index crossed above its 20 and 50 day moving averages 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 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. For additional context, note that price has gone up 7 out of the past 14 days.