Learning from last Week: (click here for the previous post)
Patterns:
Previous Week's Doji candle #WeekChart1, sends the index down to the Day Fork's bottom, Island reversal in Progress #DayChart1.
Support & Resistance:
Index takes support #DayChart1, exactly at the Bottom Tyne of the Day Fork #DayChart1. Resistance was near the Island #DayChart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all but the day chart #DayChart1.
Indicators:
The STC stays, well above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Bears get a quick fall and set up an island reversal, Bulls hold the Fork at support #DayChart1.
Looking forward into this Week:
Patterns:
Index maintains green candles for the past 6 months. Bulls on Lucky 7? #MonthChart1.
Island reversal (Study Links here, here or elsewhere) is possible on the Short Term Charts, as long as, the index keeps under 8848 #DayChart1.
Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the support to beat. for bears #DayChart1. 8849 is immediate resistance, the ATH (9119) is the next resistance.
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The MACD and its histogram deflect off the zero line, are now in positive zone #DayChart2.
Wrap:
Bulls, on the 7th straight Green Month #MonthChart1. Bears look for change, make a fast fall and set up an island reversal #DayChart1.
