Learning from last Week: (click here for the previous post)
Patterns:
'Doji' candle of the previous week gives the Bears the red they wanted - Last week's candle is a 'High Wave' #WeekChart1.
Support & Resistance:
Day Fork's middle Tyne was once again Support #DayChart1 and the Bulls defend our mark 2169. The Index made another new All Time High (ATH) #MonthChart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.
Indicators:
The STS continues in the oversold #DayChart2.
Wrap:
Bulls keep above the fork center and make a new ATH, while the Index shows its indecision with a High Wave candle #WeekChart1.
Looking forward into this Week:
Patterns:
'High Wave' candle's effect (Study Links here, here or elsewhere) is active on the Medium Term Chart #WeekChart1.
Support & Resistance:
Upper Tyne of the Fork on the Day chart is the resistance to reach #DayChart1. Middle Tyne of the Fork on the Weekly chart is the first support #WeekChart1.
Moving Averages:
The 5 EMA on the Week screen falls at 2174 a level the bulls need to defend #WeekChart1.
Indicators:
TSI nears resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls, look at making another new and higher ATH #WeekChart1. Bears hope the prevailing indecision gets them another red week #WeekChart1.
