Learning from last Week: (click here for the previous `post)
- 'Three inside down' pattern forms on the Weekly charts #W1.
Support & Resistance:
- Index was resisted by the MVWAP34 on the Medium Term Screen #W1. Support was at the MVWAP34 on the Long Term Screen #M1.
- The 5 EMA on the Month Screen deflects bearishly below the 13 SMA #M1.
- RSI 13, in the 40s #W2.
Bears after holding the index to a lower high, crack through the previous Day Channel Bottom #D1.Bulls keep index just above the long term MVWAP34 #M1.
Looking forward into this Week:
- Day Channel bottom (pink) #D1 is likely support. Previous high (2080) is resistance #D1,
- The 5 EMA on the Monthly Screen will cross bullishly above the 13 SMA, if the index closes above 2070 this month #M1.
- STS dives to the oversold #D2.
Bulls hope the support at the MVWAP34 #M1, shows them some green.
Bears push to get some rewards of the 'Three inside down' pattern.