The Hourly View for NEM
- At the time of this writing, XEM’s price is up $0 (0.48%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move down.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
- Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning above it. 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.
NEM’s hourly price chart is shown below.
The Daily View for NEM
- Currently, XEM’s price is down $0 (-1.41%) from the day prior.
- The daily chart shows that NEM has seen 2 straight down days.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
- Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them with price now being below it. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Below is a daily price chart of NEM.
Featured NEM Idea From TradingView
Below is a trading comment entitled EUR/USD Outlook (03 March 2022) you may find interesting:
Overall, EUR/USD is ranging across.The eurozone Cpi Flash Estimate y/y data released yesterday indicated continued strong rise in annual inflation, likely prompting the European Central Bank to consider an interest rate hike in 2022.-CPI Flash Estimate y/y (Actual: 5.8%, Forecast: 5.6%, Previous: 5.1%)-Core CPI Flash Estimate y/y (Act…
— Jin_LCMSTraders
The post NEM May Be Offering a Trading Opportunity With Its Cross Above Its 50 Moving Average appeared first on CFDTrading.
This post first appeared on Complete CFD Trading Guide, News And Analysis, please read the originial post: here
