Learning from last Week: (click here for the previous post)
Patterns:
Bears keep the action below the Bottom Tyne of the Day Fork #DayChart 1. Bulls despite a red week, hold the previous week's gains #WeeklyChart 1.
Support & Resistance:
Daily MA 13 was the support, while the Bottom Tyne of the Fork on the Day Chart, was resistance as expected #Daychart 1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.
Indicators:
The STC is stuck at the 61% Fibonacci retrace #Monthchart 2.
Wrap:
Bulls use the 'Three Outside up', to bulid on their higher high #WeeklyChart 1
Bears manage a red week using the resistance at the fork #DayChart 1.
Looking forward into this Week:
Patterns:
'Three Outside up' Pattern (Study Links here, here or elsewhere), is active after decent gains, on the Medium Term Chart #WeeklyChart 1
Support & Resistance:
Bottom tyne of the Fork on the Day chart is the resistance to beat #DayChart 1. The Weekly MA 5, is the first Support #WeeklyChart 1.
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart 1.
Indicators:
The STS staying in the oversold is power to the Bulls #Weeklychart 2.
Wrap:
Bulls, look at continuing to the ATH #WeeklyChart 1. Bears seek to use the current resistance, to drive the index below 8400 (the weekly MA 5 #Weeklychart 1).
