Learning from last Week: (click here for the previous post)
Patterns:
Index makes yet another new All Time High (ATH) with help from the Medium Term 'Three Outside Up', Support at the Weekly Fork, Lifts the Bulls #WeeklyChart 1.
Support & Resistance:Weekly Fork's middle Tyne was Support #WeeklyChart 1. The Middle Tyne of the Fork on the Daily Chart, was resistance again #Daychart 1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.
Indicators:
The STS is in the oversold #DayChart 2.
Wrap:
Bulls use the 'Three Outside up' to get to another 'new' ATH #WeeklyChart 1
Bears manage to stop the Bull run at the Day Fork #WeeklyChart 1.
Looking forward into this Week:
Patterns:
'Three White Soilders' Pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeeklyChart 1.
Support & Resistance:
Middle Tyne of the Fork on the Day chart is the resistance to beat #Dailychart 1. Middle Tyne of the Fork on the Weekly chart is the first support #WeeklyChart 1.
Moving Averages:
The 55 & 222 MA, is a in a 'Golden Cross' on the Day Screen #Dailychart 1.
Indicators:
TSI clears resistance at the 61.8% mark #MonthChart 2.
Wrap:
Bulls, look at making a new and higher ATH #WeeklyChart 1. Bears seek to use the current resistance, to drive the index below the MVWAP 34 #Dailychart 1
