India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Bottom action - Week 3 of January 2016.

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

Patterns:

• Bears start the week and stay, below the Weekly Channel bottom, making an inverted Hammer #W1.
• Bears use the 'Three White Soilders' pattern to good effect #W1.

Support & Resistance:

• Index closed below the 76.4% retrace of the 2008 low to the ATH #M1, on the last day of the week, support was S2 of the Month pivot. Resistance was at the daily 5 EMA #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, stay deflected bearishly on the Week Chart #W1.

Indicators:

• On the week charts the STS #W1, is in the over sold zone.

Wrap:

Bulls fail to rise above the daily 5 EMA #D1.
Bears crash the index trough the Weekly Channel Bottom #W1, with an active 'Three White Soilders' pattern in play #/W1.

Looking Forward into this Week:

Patterns:

• 'Three White Soilders' pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.
• The Last candle on the week chart is an Inverted Hammer (Study Links here, here or elsewhere) whose body shows a clear gap down #W1,

Support & Resistance:

• Index has immediate resistance at 7494 the 76.4% retrace of the 2008 low to the ATH #M1 and then at the Weekly Channel bottom #W1.
• Support is S2 of the Month pivot and  later at the Daily Channel bottom #D1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) is active D1.

Indicators:

• The MACD is below the zero line #D2.

Wrap :

Bulls pray for a pullback to Week Channel Bottom #W1.

Bears hope to break below the day channel bottom #D1.

Brent Crude Oil - Ichimoku Study - Pause? - Week 3 of January 2016.

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

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

Bulls fold again with another long red candle, bears make a lower low #W2.
Gap between the Senkou Span A & B, increases #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 
Index dives again below the Tenkan Sen and makes aother lower low.


Looking Forward into this Week:

Chikou Span is a long way from the price line  #W2.
Senkou Span A & B  crossing or deflecting helps the Bull or Bear Causes respectively #W3.
A pause to let the Tenkan Sen catch up is the next event favoring the Bulls #W2.


Wrap:
Bears look to keep the index below the Tenkan Sen, and make some lower lows #W2.
An oversold bounce or a bullish cross of the Tenkan Sen #W2, is the next Bull hope.

US - S&P 500 - Triple Screen 'Technical Analysis' - 3 inside down - Week 2 of January 2016.

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

Patterns:.

• '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.

Moving Averages:  

• The 5 EMA on the Month Screen deflects bearishly below the 13 SMA #M1. 

Indicators:

• RSI 13, in the 40s  #W2.  

Wrap:

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:

Patterns:

• 'Three inside down' pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.

Support & Resistance: 

• Day Channel bottom (pink) #D1 is likely support.  Previous high (2080) is resistance #D1,

Moving Averages:

• The 5 EMA on the Monthly Screen will cross bullishly above the 13 SMA, if the index closes above 2070 this month #M1.

Indicators:

• STS dives to the oversold #D2.

Wrap:

Bulls hope the support at the MVWAP34 #M1, shows them some green.
Bears push to get some rewards of the 'Three inside down' pattern.

Brent Crude Oil - Ichimoku Study - Fold - Week 2 of January 2016.

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

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

Bulls fold after a month of consolidation bears make a lower low #W2.
Gap between the Senkou Span A & B, increases #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 
After a pause Index makes a lower low.


Looking Forward into this Week:

Chikou Span is a long way from the price line  #W2.
Senkou Span A & B  crossing or deflecting helps the Bull or Bear Causes respectively #W3.
Tenkan Sen and Kijun Sen, making a cross or deflection is the next event on the horizon #W2.


Wrap:
Bears look to keep the index below the Tenkan Sen, and make some lower lows #W2.
An oversold bounce or a bullish cross of the Tenkan Sen and Kijun Sen #W2, is the next Bull hope.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Channel Bottom again - Week 2 of January 2016.

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

Patterns:

• Bears hold below the Monthly 5 EMA and revisit the Weekly Channel bottom with a long red candle #W1.
• Bears take down the index with the 'Three White Soilders' pattern #W1.

Support & Resistance:

• Index found support near the 76.4% retrace of the 2008 low to the ATH #M1., resistance was at the monthly 5 EMA #M1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, deflect bearishly on the Week Chart #W1.

Indicators:

• On the week charts the STS #W1, is still above the over sold zone.

Wrap:

Bulls fail to sustain above the daily 50 SMA #D1.
Bears defend the Monthly 5 EMA #M1, and crash the index to the Weekly Channel Bottom #W1...again.

Looking Forward into this Week:

Patterns:

• 'Three White Soilders' pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.
• The Long Term Chart's focus moves to the Long Legged Doji (Study Links here, here or elsewhere) and its implications #M1.

Support & Resistance:

• Index has immediate support at 7494 the 76.4% retrace of the 2008 low to the ATH #M1. Resistance is at 8040 (the 76.4% retrace of the 2011 low to the ATH) #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) is active D1.

Indicators:

• The MACD slips below the zero #D2.

Wrap :

Bulls aim to stall the fall with a Higher Low #W1.

Bears hope to break below 7494.