Learning from last Week: (click here for the previous post)
Patterns:
After the Index makes a new ATH and a clear Higher High, Bears manage an 'Inside Week' #Weeklychart.
Support & Resistance:
Support was at the low of the previous week's candle and Resistance was at the middle Tyne of the weekly fork #Weekchart.
Moving Averages:
The critical EMA5, is bullishly above the MA13, on all three charts above.
Indicators:
The RSI is near the 50% #WeekChart.
Wrap:
Bears come back with an 'Inside Week' after the new ATH and Higher high.
Looking forward into this Week:
Patterns:
Bears seek to make a Lower low with help from the 'Inside Week' (or 'Bearish Harami' - Google it) #Weeklychart.
Bulls seek 2292, the top Tyne of the Month fork #MonthlyChart.
Support & Resistance:
Middle Tyne of the Week Fork, is now resistance and the 5 EMA on the weekly Chart is support #Weekchart.
Moving Averages:
5 EMA on the Week chart i,e, 2177, is the mark, that the Bear want to get below, this week #WeekChart.
Indicators:
STS is in the over sold #DayChart.
Wrap:
Bears want to use the mid fork resistance to get below 2177 and get some traction #Weeklychart.
Bulls seek seek the Long term Channel top and a new ATH (2292) #MonthChart.
