India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Fibonacci Support - Week 2 of February 2016.

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

Patterns:

• The Bullish 'Morning Star' #W1, on the Medium Term Screen and the Bearish 'Opening Black Marubozu' #M1, on the Long Term Screen result in a volatile Week. 

Support & Resistance:

• Index was resisted at the Monthly Pivot #M1, Index took precise support at the 'Fibonacci 61.8% retrace of the 2010 low to the ATH'  #W1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, are still crossed Bullishly on the Day Screen #D1.

Indicators:

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

Wrap:

Bulls and Bears cover the same area as the previous week, keeping above support and make an 'Opening Black Marubozu' #W1, on the Medium Term Screen.

Looking Forward into this Week:

Patterns:

• A Morning Star Pattern (Study Links here, here or elsewhere) is active on the Medium Term charts #W1.
• '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 (Pullback) #W1. Support is way below at the Day Channel Bottom #D1.

Moving Averages: 

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

Indicators:

• The MACD deflects above its MA, histogram keeps above the zero line #D2.

Wrap :

Bulls hope that the pullback to Week Channel Bottom continues, with help from the 'Morning Star Pattern' #W1.

Bears aim for 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 Hold - Week 2 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 again defend the Tenkan Sen #W2.
Gap between the Senkou Span A & B, widens #W3.
Gap between Tenkan Sen and Kijun Sen, widens #W2.

Wrap: 
Index at 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 15 week stay below the Tenkan Sen #W2, with a breakout - is the Bull plan.

Say....

US - S&P 500 - Triple Screen 'Technical Analysis' - Pin bar boost - Week 1 of February 2016.

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

Patterns:.

• Bulls get a boost up with the Green Pin Bar of the previous week, last three candles on the Week Screen make a 'Three inside up' #W1.
• Bears close January with an 'Opening Black Marubozu' #M1.

Support & Resistance:

• Index was resisted by the 5 EMA on the Week Screen #W1. Support was at the '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #W1.

Moving Averages:  

• The 5 EMA on the Day Screen is crossed bullishly above the 13 SMA #D1. 

Indicators:

• RSI 13, is at divergence to the price  #W2.  

Wrap:

Bulls follow up the Green pin bar, with a 'Three Inside up' #W1.

Bears, after a lower low, dig in with a long term 'Opening Black Marubozu' #M1.

Looking forward into this Week:

Patterns:

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

Support & Resistance: 

• '23.6% Fibonacci retrace from the ATH to the 2011 (orange) low' #W1, is the next major support. The 200 SMA on the Day Charts 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 2145 this month #M1.

Indicators:

• TSI on the Month Screen. descends from the 50% to the 38.2% Fibonacci retrace #M2.

Wrap:

Bulls above the '23.6% Fibonacci retrace from the ATH to the March 2011 low', seek more green with help from the 'Three Inside up' #W1.
Bears look to enforce the down trend with the 'Opening Black Marubozu' #M1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Morning Star ! - Week 1 of February 2016.

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

Patterns:

• Long legged Doji, which gapped down the previous week, produces a 'Morning Star' as studied last week #W1.
• January candle resembles an 'Opening Black Marubozu' #M1.

Support & Resistance:

• Index was resisted by the Weekly 5 EMA #W1. Index had support at the 'Fibonacci 61.8% retrace of the 2010 low to the ATH' #W1.

Moving Averages: 

• The critical 5 EMA and 13 SMA, are crossed Bullishly on the Day Screen #D1.

Indicators:

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

Wrap:

Bulls pull up to the weekly 5 EMA (7576) and trigger a 'Morning Star' #W1.
Bears hold the index at the Day channel's mid point #D1 and below the 7606 mark.

Looking Forward into this Week:

Patterns:

• A Morning Star Pattern (Study Links here, here or elsewhere) is active on the Medium Term charts #W1.
• 'Opening Black Marubozu' (Study Links here, here or elsewhere) is active on the Long Term charts #M1.

Support & Resistance:

• Index has resistance at the Weekly channel bottom #W1. Support is at the Daily 5 EMA #D1.

Moving Averages: 

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

Indicators:

• The MACD moves above its MA, histogram ticks above the zero line #D2.

Wrap :

Bulls hope that the pullback to Week Channel Bottom continues, with help from the 'Morning Star Pattern' #W1.

Bears aim for the day channel bottom, assisted by the 'Opening Black Marubozu' on the month screen #M1.