Learning from last Week: (click here for the previous post)
Patterns:
Index makes a new ATH and a clear Higher High #Weeklychart.
Support & Resistance:
Support was at the daily 5 EMA #DayChart. Resistance was below the middle Tyne of the new Day Fork #Daychart.
Moving Averages:
The critical EMA5, is bullishly above the MA13, on all three charts above.
Indicators:
The RSI is near the 60% #WeekChart.
Wrap:
Bulls take out the middle Tyne of the Weekly Fork #WeeklyChart and make a new ATH along with a neat Higher high.
Looking forward into this Week:
Patterns:
The index is looking at a new ATH - Bulls seek 2292, the top Tyne of the Month fork #MonthlyChart.
Bears seek to make a Lower low #Weeklychart.
Support & Resistance:
Middle Tyne of the Week Fork, is the Support - Bears would want to get below #Weekchart.
Middle Tyne of the Day Fork, is the resistance that Bulls would want to get above #DayChart.
Moving Averages:
5 EMA on the Week chart i,e, 2182, is the mark, that the Bear want to get below this week #WeekChart.
Indicators:
STS is in the over sold #DayChart.
Wrap:
Bears need to get below 2182 to get a semblance of traction.
Bulls seek seek the Long term Channel top and a new ATH (2292) #MonthChart.
