Learning from last Week: (click here for the previous `post)
- 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.
- The 5 EMA on the Day Screen is crossed bullishly above the 13 SMA #D1.
- RSI 13, is at divergence to the price #W2.
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:
- '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,
- The 5 EMA on the Monthly Screen will cross bullishly above the 13 SMA, only if the index closes above 2145 this month #M1.
- TSI on the Month Screen. descends from the 50% to the 38.2% Fibonacci retrace #M2.
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.