Learning from last Week: (click here for the previous post)
Patterns:
Bears close the index below the Day fork, Bulls manage to close above 2116 #Daychart1, Last week however engulfs the previous week #Weekchart1.
Support & Resistance:
Resistance was at the daily 50MA #DayChart1. Support near the our mark 2116 #Daychart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA13, only on the Month Chart #Monthchart1.
Indicators:
The RSI heads towards the over sold #WeekChart2.
Wrap:
Bears hold the Index below the bottom Tyne of the Day Fork #DayChart1 and make a weekly Engulfing pattern #WeekChart1.
Looking forward into this Week:
Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) is active on the Long term charts #MonthChart1.
'Engulfing Pattern' is active on the Weekly Charts (Study Links here, here or elsewhere).
Support & Resistance:
2116 is the support that Bears would want to close the week below. Daily 50MA is resistance #DayChart1.
Moving Averages:
5 EMA on the Week chart i,e, 2140, is the mark, that the Bulls want to stay above, this week #WeekChart1.
Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthChart2.
Wrap:
Bulls after defending 2116, look to close above 2140.
Bears need to close well below 2116 and make a lower low #DayChart1.
