Learning from last Week: (click here for the previous post)
Patterns:
Index vacillates around the Wall (8666) all week, and closes the week one point above it #WeekChart1.
Support & Resistance:
Index again had support near the bottom Tyne of the Day Fork #DayChart1. August Wall (link) i.e. 8666 was the Resistance by weekend, and Index again closed above it.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.
Indicators:
The STC nudges above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Bulls and Bears fight for control of 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 first Support, bottom Tyne of the Day Fork #DayChart1 is next.
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 ticking upward from below zero - Bulls attempting a comeback #Daychart2.
Wrap:
Bulls, look to the 'Three Outside Up' to make a new ATH #WeekChart1. Bears fight for life below the Wall (8666).
