- Index breaks out of its range and runs into the ATH (All Time High) and makes a Triple Top #D1.
- March and February candles form a Bearish Harami, with April candle showing green - for most of this month #M1.
Support & Resistance:
- Index halts at the ATH #M1 & #D1, while support was around the 13 SMA on the EOW #W1.
Moving Averages:
- The all important, 5 EMA and 13 SMA, on the medium term screen, stay deflected Bullishly again last week #W1.
Indicators:
- RSI 13 is still in the 50s #W2.
Wrap:
Index again makes a higher high on the Day Chart, Bulls still on top at the ATH with a Third Top #D1.
Looking forward into this Week:
Patterns:
- Bears Struggle to make a Long Term 'Three inside down' after the Bearish Harami - see last three candles #M1 (Study Links here, here or elsewhere) a Triple top on the Short Term may help (Study Links here, here or elsewhere).
- Bulls look to History (re-look) #M1 & #M3, and the support at the 5 EMA #M1, for a resumption of the Bull run.
Support & Resistance:
- 5 EMA on the EOW (2095) #W1, is the Index Support that Bears want to get below.
- Bulls would push for new ATHs and a month close in the green #D1.
- If the Index again closes the week above 2066, the 5 EMA and the 13 SMA on the Weekly Charts, would stay deflected Bullishly #W1.
Indicators:
- TSI, support at the 61.8% Fibonacci retrace, good for the Bulls #M2.
Wrap:
Bears after triggering a Long term Bearish Harami, look to convert it into a '3 inside down', by closing April below 2068 #M1, with some help from the Triple Top #D1.
