Learning from last Week: (click here for the previous post)
Patterns:
Bulls get the '3 Outside up' #WeekChart1, and make it back above our weekly support. 8666.
Support & Resistance:
Weekly 5 EMA was the support, resistance was felt at the previous top (around 8700) #DayChart1.
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 climb higher with a '3 Outside up' #WeekChart1
Bears stop the Bulls using the resistance near the recent top #DayChart1.
Looking forward into this Week:
Patterns:
'3 Outside up' Pattern (Study Links here, here or elsewhere), is active, on the Medium Term Chart #WeekChart1. Bears hope its a 'Double Top' Pattern (Link)
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 ticking below zero - good for bears #Daychart2.
Wrap:
Bulls, look to the 'Three Outside Up' to get to a new ATH #WeekChart1. Bears seek life below the Wall (8666).
