Monday, April 24, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Support Works - Week 4 of April 2017.

Zoom into chart .. Click 

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

Index takes off from Support at the 1.62 extension as marked above.
The Blue weekly 'Tenkan Sen' is resistance currently.


The Index rises from Support to the Tenkan Sen (Blue line).

Looking forward into this Week:

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

Bulls look to crack the Tenkan Sen staying above current support at the 1.62 Fibonacci.
Bears hope to restart the downward momentum, seek to change the trend