Learning from last Week: (click here for the previous post)
Patterns:
Previous Fork breaks, Bears celebrate as index falls below 8804 #DayChart1. Week candle is a Marubozu #WeekChart1.
Support & Resistance:
Index takes support at the Bottom Tyne of the new Day Fork #DayChart1. Resistance was near 8804.
Moving Averages:
The critical EMA 5, bearishly below the MA 13 on all screens #DayChart1.
Indicators:
The STC stays, well above the 76% Fibonacci retrace #MonthChart2.
Wrap:
Index breaks below 8804 and falls fast to the previous weekly low #WeekChart1.
Looking forward into this Week:
Patterns:
Last week's candle the Opening Black Marubozu is active (Study links here, here or elsewhere) #WeekChart1.
Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the first support #DayChart1. The Middle Tyne of the Week Fork is the resistance.
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.
Indicators:
The MACD and its histogram, are diving below zero #DayChart2.
Wrap:Bears make a change with a break from the previous 6 green months #MonthChart1.
Bulls want a comeback with a weekly close above 8636 #Weekchart1.
