Learning from last Week: (click here for the previous post)
Patterns:
Evening Doji Star formation apparent on the Weekly Chart #W1. Bulls make a Higher High #M1.
Support & Resistance:
Middle Tyne of the fork on the day screen #D1, was support and later resistance last week.
Moving Averages:
The critical 5 EMA, is bearishly below the 13 SMA, on the day screen #D1.
Indicators:
STS is in the Over bought zone #D2.
Wrap:
Bulls make a Higher High #M1. Bears manage Evening Doji Star #W1.
Looking forward into this Week:
Patterns:
Possible 'Evening Doji Star' (Study Links here, here or elsewhere), on the Week Chart #W1.
Support & Resistance:
Weekly Channel Top (orange) is the resistance to beat #W1. The lower tyne of the fork is the support #D1.
Moving Averages:
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.
Indicators:
TSI just above the resistance at the 61.8% mark #M2.
Wrap:
Bulls, after making a higher high (above 2116) #M1, look to reach the ATH.
Bears seek to get the Index below the fork #D1, and seek a lower low to make up.
