S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Support Works - Week 4 of April 2017.

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

Index takes off from Support at the 1.62 extension as marked above.

The Blue weekly 'Tenkan Sen' is resistance currently.

Wrap: 
The Index rises from Support to the Tenkan Sen (Blue line).

Looking forward into this Week:

Bears need to get below the 1.62 extension - marked above.

Bulls seek Higher Highs, with help from the Piercing  Pattern and off current support.

Index Support and Resistance possibilities are marked as above. 

Wrap:
Bulls look to crack the Tenkan Sen staying above current support at the 1.62 Fibonacci.
Bears hope to restart the downward momentum, seek to change the trend.