Learning from last Week: (click here for the previous post)
Patterns:
Index closes the week on the neckline of a 'Head and Shoulder' Pattern #DaiyChart1 Link(Click)
Support & Resistance:
Day Fork's middle Tyne and 13MA were resistances #DayChart1
Index closes below the 50 MA and Day Fork's bottom Tyne #DayChart1.
Moving Averages:
The critical EMA 5, bearishly below the MA 13 on all except month screen #MonthChart1.
Indicators:
The STC stays, well above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Bears close below the Day Fork, Bulls close above the neckline of the H&S pattern #DayChart1.
Looking forward into this Week:
Patterns:
Head & Shoulder pattern is active on the Day chart (Study links here, here or elsewhere) Bears need the Index crashing below the neckline #DayChart1.
Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the first resistance #DayChart1. Neckline of the Head & Shoulder Pattern is the first Support (Link).
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The MACD and its histogram, are below zero #DayChart2.
Wrap:
Bears look to break the H&S neckline and get below last week's low 8541 #DayChart1.
Bulls want to break the current down trend, by getting above 8808 #DayChart1.
