Learning from last Week: (click here for the previous post)
Patterns:
'Evening Star' pattern triggers on the long term screen #MonthChart1. Septermber candle was a Long Doji.
Support & Resistance:
Resistance was at the middle Tyne of the Week Fork #WeekChart1. Support near the 13 MA on the day charts #Daychart1.
Moving Averages:
The critical EMA 5, is again bearishly below the MA 13, only on the Week Chart #WeekChart1.
Indicators:
The RSI is near the oversold #WeekChart2.
Wrap:
Evening Star triggers on the Month Chart #MonthChart. September candle is a Doji..
Looking forward into this Week:
Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) is active on the Long term charts, as the September close was just below 2171 #MonthChart1.
Support & Resistance:
5 EMA on the Week chart i,e, 2161, is the support Bulls want to defend #WeekChart1.
Middle Tyne of the Fork on the Week chart is resistance, that Bulls aim for #WeekChart1.
Moving Averages:
The EMA 5 and MA 13, on the Medium Term Chart cross Bullishly above 2188, a mark the Bears want to defend #WeekChart1.
Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls after allowing an Evening Star #MonthChart1, seek a comeback with a move above 2188.
Bears want to keep below the middle Tyne of the Week Fork #WeekChart1 and aim for life below 2161.
