US - S&P 500 - Triple Screen 'Technical Analysis' - Pin Bar Rewards - Week 3 of March 2016.

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

Patterns:.

• Bulls get rewards from the February Pin Bar #M1. Index moves up smartly to the Daily 222 SMA #D1. 

Support & Resistance:

• Index was resisted around the 222 SMA  on the Daily Screen #D1. Support came in at the 13 SMA on the Day Screen #D1.

Moving Averages:  

• The critical 5 EMA, is crossed bullishly above the 13 SMA, on the Day and Week Screens #D1.

Indicators:

• STS is in the over sold zone #D1.

Wrap:

Bulls use the Pin Bar on the Month Screen to good effect, Bears defend 222 SMA #D1.

Looking forward into this Week:

Patterns:

• Pin Bar Candle's effect (Study Links here, here or elsewhere) is active on the Month Screen #M1.

Support & Resistance: 

• MVWAP34 #D1, is the immediate support. The 222 SMA on the Day Charts is the resistance, that Bulls need to clear next #D1,

Moving Averages:

• A Death Cross (55 & 222 SMA), is on the Day Screen.

Indicators:

• RSI 13 staying above the 50% mark, is important for the Bull up move #W2.

Wrap:

Bulls on a roll, after Pin Bar, now consider the 222 SMA, in their path to making a higher high #D1.
Bears aim to keep the index below the 222 SMA #D1, then break below the day Channel #D1 and keep the down trend intact.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Pullback Progresses - Week 3 March 2016.

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

Patterns:

• Bulls take a break with a small green candle #W1, whose body gaps above previous weeks candle.

Support & Resistance:

• The Daily 5 EMA, was support all week and the Monthly 5 EMA  #M1, was resistance last week.

Moving Averages: 

• The critical 5 EMA and 13 SMA, poised to cross or deflect on the  Week Screen #W1.

Indicators:

• On the week charts the STS #W1, climbs above the over sold zone.

Wrap:

index ranges between the Monthly and Daily 5 EMA. Pull Back half way done #W1..

Looking Forward into this Week:

Patterns:

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

Support & Resistance:

• Bulls seek to clear the resistance at 8040, the 'Fibonacci 76.4% retrace of the 2010 low to the ATH)' #W1. 
• The weekly 5 EMA, 7374 is the support that the bears would want to crack #W1.

Moving Averages: 

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

Indicators:

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

Wrap :

Bulls hope the Pullback from the Weekly 200 SMA, to the Week Channel Bottom #W1, continues.

Bears Hope to persist below the Monthly 5 EMA 7578 #M1.

Brent Crude Oil - Ichimoku Study - Kijun Sen Stop - Week 3 of March 2016.

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

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

Bears defend the Kijun Sen #W2.
Gap between the Senkou Span A & B,reduces #W3.
Gap between Tenkan Sen and Kijun Sen, reduces #W2.
Chikou Span approaches the Price line #W1


Wrap:
After reaching the Kijun Sen the index retreats #W2.



Looking Forward into this Week:

Chikou Span approaching the price line, great for Bulls  #W1.
Staying above the Tenkan Sen, Bulls keep hopes up #W2.
Bears need to keep the index below the Kijun Sen #W2.


Wrap:
Bears look to defend the Kijun Sen #W2.
Bull would fire the index at the Kijun Sen #W2, and the Chikou Span at the Price line #W1.