Learning from last Week: (click here for the previous post)
Patterns:
Bulls Engulf the previous week #WeekChart1.
Support & Resistance:
Daily 5 EMA was the support, while the Bottom Tyne of the (old) Day Fork, was resistance as expected #Weekchart1.
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 #Monthchart2.
Wrap:
Bulls climb higher and Engulf the previous week #WeekChart1
Bears stop the Bulls using the resistance at the fork #WeekChart1.
Looking forward into this Week:
Patterns:
'Engulfing' Pattern (Study Links here, here or elsewhere), is active, on the Medium Term Chart #WeekChart1. Bulls look for a 'Three Outside Up' (link)
Support & Resistance:
Middle tyne of the (new) Fork on the Day chart is the resistance to beat #DayChart 1. The Wall (link) for August i.e. 8666 is the Support the Bulls would want to stay above.
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The STS staying in the oversold is power to the Bulls #Weekchart2.
Wrap:
Bulls, look for another 'Three Outside Up' and then a new ATH #WeekChart 1. Bears seek life below the Wall (8666)
