US - S&P 500 - Triple Screen 'Technical Analysis' - Pin bar - Week 4 of January 2016.

Learning from last Week:  (click here for the previous `post)

Patterns:.

• More rewards from the 'Three inside down' pattern on the Weekly charts for the Bears as new lows are made #W1.
• Bulls lock in above the '23.6% Fibonacci retrace from the ATH to the March 2011 low' with a green pin bar #W1.

Support & Resistance:

• Index was resisted by the 13 SMA on the Day Screen #D1. Support was above the '23.6% Fibonacci retrace from the ATH to the 2008 (blue) low' #M1.

Moving Averages:  

• The 5 EMA on all Screens stay crossed bearishly below the 13 SMA on all screens. 

Indicators:

• RSI 13, in the 30s  #W2.  

Wrap:

Bulls close the week above the '23.6% Fibonacci retrace from the ATH to the March 2011 low' with a green pin bar #W1.

Bears prove a point, making a lower high (earlier) and a lower low (now) #W1.

Looking forward into this Week:

Patterns:

• 'Three inside down' pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.
• 'Pin Bar candle' (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.

Support & Resistance: 

• 50 SMA on the Monthly chart is the next major support #M1. The 5 EMA on the Week Charts (1944) is  likely resistance #D1,

Moving Averages:

• The 5 EMA on the Monthly Screen will cross bullishly above the 13 SMA, only if the index closes above 2070 this month #M1.

Indicators:

• STS stays in the oversold #D2.

Wrap:

Bulls after kick off upwards, from support at the '23.6% Fibonacci retrace from the ATH to the March 2011 low', seek more green with some help from the 'pin bar' #W1.
Bears look to enforce a lower low with the momentum from the 'Three inside down' pattern.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Morning Star ? - Week 4 of January 2016.

Learning from last Week: (click here for the previous post)

Patterns:

• Inverted Hammer of the previous week, is followed by a long legged doji, which also gaps down #W1.
• Bears again use the 'Three White Soldiers pattern to good effect #W1.

Support & Resistance:

• Index closed at S2 of the Month pivot. Resistance was at the daily 5 EMA #D1. Index came back from below the support at 7367, the '61.8% retrace of the 2010 low to the ATH' #W1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, stay deflected bearishly on all three Charts..

Indicators:

• On the week charts the STS #W1, is deep in the over sold zone.

Wrap:

Bulls finally manage to rise above the daily 5 EMA #D1.
Earlier the Bears touched 7367, with an active 'Three White Soldiers' pattern in play #/W1.

Looking Forward into this Week:

Patterns:

• 'Three White Soilders' pattern (Study Links here, here or elsewhere) is active on the Medium Term Chart #W1.
• The Last candle on the week chart is a Long Legged Doji (Study Links here, here or elsewhere) whose body shows a clear gap down #W1. 
• Possibility of a Morning Star Pattern (Study Links here, here or elsewhere) forming exists #W1.

Support & Resistance:

• Index has immediate resistance at 7494 the 76.4% retrace of the 2008 low to the ATH #M1 and then at the Weekly Channel bottom #W1.
• Support is S2 of the Month pivot and  later at the Daily Channel bottom #D1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) is active D1.

Indicators:

• The MACD is below the zero line #D2.

Wrap :

Bulls pray for a pullback to Week Channel Bottom #W1.

Bears eye life around the day channel bottom #D1.

Brent Crude Oil - Ichimoku Study - Pause and Bounce - Week 4 of January 2016.

Introduction / Primer to Ichimoku can be read at this link (click). 

Learning from the Earlier Study: (click here for the previous post)

Bulls enforce a pause in the fall with a strong green candle #W2.
Gap between the Senkou Span A & B, steady #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 
Index still below the Tenkan Sen, Bulls make a strong pause and bounce.



Looking Forward into this Week:

Chikou Span is a long way from the price line  #W2.
Senkou Span A & B  crossing or deflecting helps the Bull or Bear Causes respectively #W3.
Some more green, to let the Tenkan Sen catch up, is the next event the Bulls long for #W2.


Wrap:
Bears look to keep the index below the Tenkan Sen, and make some lower lows #W2.
Folow up to this bounce with a bullish cross of the Tenkan Sen #W2, is the next Bull hope.