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Monday, February 15, 2016

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bingo - Week 3 of February 2016.












Learning from last Week: (click here for the previous post)

Patterns:
  • The Index lands exactly at the Day Channel Bottom #D1, after a fast fall, as studied earlier.
Support & Resistance:
  • Index was resisted at the Monthly Pivot #M1, Index took precise support at the Day Channel Bottom #D1, and the S2 of the Month Pivot  #M1. 
  • Resistance was at the same channel's, middle line #D1.
Moving Averages: 
  • The critical 5 EMA and 13 SMA, are crossed Bearishly on all screens.
Indicators:
  • On the week charts the STS #W1, remains in the over sold zone.

Wrap:

'Opening Black Marubozu' #W1, on the Long and Medium Term Screens, produce a fast fall to the Day Channel Bottom #D1.




Looking Forward into this Week:

Patterns:
  • 'Opening Black Marubozu' (Study Links herehere or elsewhere) is active on the Long Term chart #M1 and Medium Term Chart #W1.
Support & Resistance:
  • Index has resistance at the Weekly channel bottom #W1. Next Support is  available at the 'Fibonacci 50% retrace of the 2010 low to the ATH'  #W1.
Moving Averages: 
  • The Death Cross (50 and 200 SMA) has been active for the past 6 months #D1.
Indicators:
  • The TRD closing above the 38.6% Fibo for the month, helps the Bulls #M2.


Wrap :
Bulls hope that the pullback to Week Channel Bottom happens, with a bounce from supports #D1, #M1.
Bears aim for life below the day channel bottom, assisted by the 'Opening Black Marubozu' on the Long and Medium term screens #M1.


Brent Crude Oil - Ichimoku Study - Tenkan Sen Holds again - Week 3 of February 2016.





Introduction / Primer to Ichimoku can be read at this link (click). 


Learning from the Earlier Study: 
(click here for the previous post)

Bears once again defend the Tenkan Sen #W2.

Gap between the Senkou Span A & B, widens some more #W3.
Gap between Tenkan Sen and Kijun Sen, again widens #W2.

Wrap: 

Index still nudging the Tenkan Sen, Bears repeat their precise defense #W2.




Looking Forward into this Week:


Chikou Span starts towards the price line  #W2.

Above the Tenkan Sen, the bulls get some life #W3.
Defending the Tenkan Sen, as they have, in the past three months, keeps the Bears dominant #W2.


Wrap:

Bears look to again defend the Tenkan Sen, and get more red on the screen #W2.
Breaking the 16 week stay below the Tenkan Sen #W2, with a breakout - is the Bull plan.