Learning from last Week: (click here for the previous post)
Patterns:
Week and Day Screens continue with Pullback to Resistance - index closes at resistance point #WeekChart1 & #DayChart1.
Support & Resistance:
Resistance was 9 pips above our mark 2171 and Support at the previous week's close #WeekChart1.
Moving Averages:
The critical EMA 5, is bearishly below the MA 13, only on the Week Chart #WeekChart1.
Indicators:
The RSI is in the oversold #WeekChart2.
Wrap:
Index completes Pullback #DayChart1 & #WeekChart1. Month remains red #MonthChart.
Looking forward into this Week:
Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) can stay active, if the September close is below 2171 #MonthChart1.
Pullback to resistance in progress on two charts above (Study Links here, here or elsewhere) #WeekChart1 & #DayChart1.
Support & Resistance:
MA200 on the Day chart is the support Bears want to get to #DayChart1. Top Tyne of the Fork on the Month chart is resistance Bulls aim for #MonthChart1.
Moving Averages:
The EMA 5, on the Long Term Chart is at 2128 for the month - a mark the Bulls want to defend #MonthChart1.
Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls Pullback seeking a close above 2171. Bears want to complete the pullback and continue down #WeekChart1 & #DayChart1.
