Learning from last Week: (click here for the previous post)
Patterns:
Bulls make a higher high, with help from the '3 Outside up' #WeekChart1, and close above our weekly support. 8666.
Support & Resistance:
Index had support near the bottom Tyne of the Day Fork #DayChart1. August Wall (link) i.e. 8666 was the Resistance by weekend, and Index closed above it.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.
Indicators:
The STC legs up to the 76% Fibonacci retrace #MonthChart2.
Wrap:
Bulls make a higher high with help from the '3 Outside up' #WeekChart1
Bears put up a stiff fight at the wall (8666).
Looking forward into this Week:
Patterns:
'3 Outside up' Pattern (Study Links here, here or elsewhere), is active, on the Medium Term Chart #WeekChart1.
Support & Resistance:
Middle Tyne of the Fork on the Day chart is the resistance to beat #DayChart1. The Wall (link) for August i.e. 8666 is the Support, that 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 MACD is below its MA and the histogram is below zero - good for bears #Daychart2.
Wrap:
Bulls, look to the 'Three Outside Up' to make a new ATH #WeekChart1. Bears fight for life below the Wall (8666).
