Monday, April 17, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Fall to Support - Week 3 of April 2017.

Zoom into chart .. Click 

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

Index falls to Support at the 1.62 extension as marked above.
Following a Piercing Pattern the Index has fallen to a major Support Line once again.


The Index pulls back to the 1.62 extension of the last major High-Low and Bears fail to crack the support.

Looking forward into this Week:

Bears hope to crack  below this Support at the 1.62 extension.
Bulls seek Higher Highs, with help from the Piercing  Pattern and off current support.
Index Support and Resistance possibilities are marked as above. 

Bulls hope for Higher Highs taking off from current support at the 1.62 Fibonacci.
Bears plan to sustain the downward momentum, seek to change the trend