• Confirmed Uptrend
• Uptrend resumption since Feb 08, 2016 after a pull back of -15.2%

• The week ending on December 8 was a small red candle with small upper shadow and larger lower shadow
• Last week’s pivot point 2647.15; R1=2669.54, R2=2687.59; S1=2629.10, S2=2606.71; No levels were breached
• An up week;  third in last five weeks and eight in last ten weeks
• Broke above a down sloping flag on April 24 2017;
  • flag-low was 2322.25 during 27-Mar-17 week; shorter flag-pole length is 317.19 and longer flag-pole length is 590.88;
  • 100% extension target of shorter flag-pole near 2639.41 is achieved; and the 161.8% extension target is near 2835.46
  • 61.8% extension target of longer flag-pole is near 2687.41
• Broke above a down-sloping flag on November 14, 2016;
  • the flag low was 2083.79 during 31-Oct-16 week; the shorter flag-pole length is 202.13 and the longer flag-pole length is 383.71;
  • 261.8% extension target of shorter flag-pole near 2612.97 is achieved
  • the 161.8% extension target of longer flag-pole is near 2704.63
• Last swing low, 2322.25, was the low on March 27, 2017
• Above 10-week EM; above 39-week SMA and 89-week SMA
• Confirmed uptrend

Daily

• A red almost bearish engulfing; following through of Wednesday’s bearish candle; most of the price action of the day was down
• RSI-14 divergence – on October 20 the RSI was 79.65 and the 2578,29, on November 8 the high was 2595.47 and the RSI was 72.50; on November 30, RSI-14 was 76.67 and the index was at 2657.74; on December 12 the index was 2669.72 and RSI was 74.77
• Last pattern, a down-sloping flag in June that was broken to the upside on July 13; in August the index declined and tested the broken upper limit of the flag
• Above 20-day EMA but above 50-day EMA; Above 100-day SMA and 200-day SMA
• Pivot Point=2657.37; R1=2662.73, R2=2673.45; S1=2646.65; S2=2641.29; S1/S2 were breached
• Confirmed Uptrend

• Futures broke below a support, previous high, at 12:00 PM on Thursday; turning up after making a low at 4:00 PM; still below the broken support, which may become resistance
• 14-bar RSI diverged and the futures broke below a support and a narrow horizontal channel;
• Sequence of higher highs and higher lows since 10:00 AM on November 2 and since August 29 with few exceptions is reasserted on November 21; it is again under pressure
• Below 20-bar EMA, which is above 50-bar EMA

• Broke below a horizontal channel – high 2675.50 and low of 2666.25; the 161.8% extension target near 2651.25 was achieved; the 261.8% extension target is near 2642.00
• Futures rising since 4:40 PM on Thursday; at the resistance, 2659.25, the low of 10:30 PM on December 12
• At a flattening 20-bar EMA, which is below flattening 50-bar EMA

• Envelop and Bollinger Band moved down from early European session to early Asian session on Thursday; since then they are drifting up
• The Bollinger Band (20 EMA, 2 stddev.) started contracting at 4:030 AM; price tagging the base; contained within the envelop (20 EMA, 0.196%)
• The Stochastic (9, 1, 3) is falling since 6:00 AM after touching 80; %K crossed below %D

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