Learning from last Week: (click here for the previous post)
Patterns:
After the 'Evening Star' pattern triggers on the long term screen #MonthChart1, Index continues to face resistances at the middle Tyne of the Week and Day forks.#WeekChart1, #Daychart1.
Support & Resistance:
Resistance was again at the middle Tyne of the Week Fork #WeekChart1. Support near the bottom Tyne of the Day Fork #Daychart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA 13, only on the Month Chart (landing 1909) #Monthchart1.
Indicators:
The RSI is near the center of the range #WeekChart2.
Wrap:
Bulls hold the Action above the bottom Tyne of the Day Fork #DayChart. Bears move index down and get another red weekly candle #WeekChart1.
Looking forward into this Week:
Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) is active on the Long term charts #MonthChart1.
Support & Resistance:
34 MVWAP on the Week chart is support. Middle Tyne of the Fork on the Week chart is resistance #WeekChart1.
Moving Averages:
5 EMA on the Month chart i,e, 2141, is the resistance, that the Bulls want to be above, this month #MonthChart1.
Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls after allowing an Evening Star #MonthChart1, need a save, getting above 2141.
Bears want to keep below the middle Tyne of the Week Fork and aim for life below the MVWAP 34 #WeekChart1.
