PRICE ACTION
1-Day chart last CLOSE 6760 (6613), HIGHER close
1-Week chart last CLOSE 6362
Support: Day chart, the 10 (6493) & 20 (6404) day MA
Horizontal support at 6516-6748 covering 3 upper
wicks of this weeks action & further lower
wicks in support at 6410-6516 & again around
6275 (2.7.18 lower wick)
Resistance: the area 6781-6807 been
tested multiple times by upper wicks
in past week, keep eye on increase in VOLUME
to bridge the range 6807
The 50 day MA (6957) moving closer to the upper
Bollinger Band (6920)
Lower trend line of channel lending further support.
E.Waves in the shorter time frames,
symmetrical triangle, breakout to
the upper side, completion of an impulse
wave but in a correction phase now
TREND FOLLOWING
Trade ranging 6516-6807
Heikin Ashi candle indicates strong probability,
for uptrend to continue for today with
a big body candle
1-Day chart last CLOSE 6760 (6613), HIGHER close
1-Week chart last CLOSE 6362
Support: Day chart, the 10 (6493) & 20 (6404) day MA
Horizontal support at 6516-6748 covering 3 upper
wicks of this weeks action & further lower
wicks in support at 6410-6516 & again around
6275 (2.7.18 lower wick)
Resistance: the area 6781-6807 been
tested multiple times by upper wicks
in past week, keep eye on increase in VOLUME
to bridge the range 6807
The 50 day MA (6957) moving closer to the upper
Bollinger Band (6920)
Lower trend line of channel lending further support.
E.Waves in the shorter time frames,
symmetrical triangle, breakout to
the upper side, completion of an impulse
wave but in a correction phase now
TREND FOLLOWING
Trade ranging 6516-6807
Heikin Ashi candle indicates strong probability,
for uptrend to continue for today with
a big body candle