India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bingo - Week 3 of February 2016.

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

Patterns:

• The Index lands exactly at the Day Channel Bottom #D1, after a fast fall, as studied earlier.

Support & Resistance:

• Index was resisted at the Monthly Pivot #M1, Index took precise support at the Day Channel Bottom #D1, and the S2 of the Month Pivot  #M1. 
• Resistance was at the same channel's, middle line #D1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, are crossed Bearishly on all screens.

Indicators:

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

Wrap:

'Opening Black Marubozu' #W1, on the Long and Medium Term Screens, produce a fast fall to the Day Channel Bottom #D1.

Looking Forward into this Week:

Patterns:

• 'Opening Black Marubozu' (Study Links here, here or elsewhere) is active on the Long Term chart #M1 and Medium Term Chart #W1.

Support & Resistance:

• Index has resistance at the Weekly channel bottom #W1. Next Support is  available at the 'Fibonacci 50% retrace of the 2010 low to the ATH'  #W1.

Moving Averages: 

• The Death Cross (50 and 200 SMA) has been active for the past 6 months #D1.

Indicators:

• The TRD closing above the 38.6% Fibo for the month, helps the Bulls #M2.

Wrap :

Bulls hope that the pullback to Week Channel Bottom happens, with a bounce from supports #D1, #M1.

Bears aim for life below the day channel bottom, assisted by the 'Opening Black Marubozu' on the Long and Medium term screens #M1.

Brent Crude Oil - Ichimoku Study - Tenkan Sen Holds again - Week 3 of February 2016.

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

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

Bears once again defend the Tenkan Sen #W2.
Gap between the Senkou Span A & B, widens some more #W3.
Gap between Tenkan Sen and Kijun Sen, again widens #W2.

Wrap: 
Index still nudging the Tenkan Sen, Bears repeat their precise defense #W2.



Looking Forward into this Week:

Chikou Span starts towards the price line  #W2.
Above the Tenkan Sen, the bulls get some life #W3.
Defending the Tenkan Sen, as they have, in the past three months, keeps the Bears dominant #W2.


Wrap:
Bears look to again defend the Tenkan Sen, and get more red on the screen #W2.
Breaking the 16 week stay below the Tenkan Sen #W2, with a breakout - is the Bull plan.