Learning from last Week: (click here for the previous post)
Patterns:
Bears close the index below 2116 last week, Previous week's Engulfing turns into a 'Three Outside down' #Weekchart1.
Support & Resistance:
Support was at the daily 200MA #DayChart1. Resistance near the daily 5 EMA #Daychart1.
Moving Averages:
The critical EMA 5, is bullishly above the MA13, only on the Month Chart #Monthchart1.
Indicators:
The RSI in the over sold #WeekChart2.
Wrap:Bears turn the weekly Engulfing pattern into a 'Three Outside Down' #WeekChart1.
Bulls defend the 200 MA #DayChart1.
Looking forward into this Week:
Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) is active on the Long term charts #MonthChart1.
'Three Outside down' is active on the Weekly Charts (Study Links here, here or elsewhere).
Support & Resistance:
2166 is the resistance that Bears would want to stay below. Daily 200MA is support for Bulls #DayChart1.
Moving Averages:
5 EMA on the Week chart i,e, 2122, is the mark, that the Bulls want to stay above, this week #WeekChart1.
Indicators:
TSI takes support at the 62% Fibonacci mark #MonthChart2.
Wrap:
Bulls after defending the 200 MA, look to stem the flow of red candles #DayChart1.
Bears need to stay below 2166 and prevent a Higher High #DayChart1.
