The Hourly View for CME
At the moment, CME (Get Ratings)’s price is down $-0.58 (-0.28%) from the hour prior. CME 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 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly 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.
Out of Trading stocks, CME ranks 243rd in regards to today’s price percentage change.
CME’s Technical Outlook on the Daily Chart
Currently, CME’s price is down $-1.31 (-0.65%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. The moving averages on the daily 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. The chart below shows CME’s price action over the past 90 days.
For CME News Traders
News traders keeping an eye on CME may find value in this recent story:
CME Group, the world’s leading and most diverse derivatives marketplace, today launched Micro Bitcoin futures, further expanding its suite of crypto derivatives offerings.
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