Learning from last Week: (click here for the previous post)
Patterns:
Index recovers, as Bulls pull up, and open way above August Candle, to preclude an 'Evening star' #WeekChart1.
Support & Resistance:
Index continues its take off from support, well above the 50 SMA #DayChart1, and cracks through the Bottom Tyne of the Day Fork #DayChart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.
Indicators:
The STC clinbs, well above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Index takes off from previous week's support (50 MA) and breaks back into the Fork on the Day Screen #DayChart1.
Looking forward into this Week:
Patterns:
Index maintains green candles for the past 6 months. Bulls on Lucky 7 #MonthChart1.
Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the support to maintain #DayChart1. The 50 SMA #DayChart1, is fallback support. The ATH (9119) is resistance.
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The MACD and its histogram, are now around zero #Daychart2.
Wrap:
Bulls, on the 7th straight Green Month #MonthChart1. Bears look for change, aim for life below the 50 SMA #DayChart1.
