Long term: towards 2400 or lower

On a yearly basis, see the dynamic for – 8 and next…MY (3375) failed as a support. 3000 is our first target and 2400 the next one. Our stochastic will be overbought at the end of Q4. With this hypothesis, 2400 will fail as a support. Below 2 000, LY (512 in 2008) will be our next objective.

On a quarterly basis, our 7 / 23 quarters moving averages crossover could be a bearish A type. Our MACD is overbought. LQ failed as a support (wait the end of Q4) and a nice dynamic is in progress with UQ, 2400 is our next target.

On a monthly basis; Bollinger bands are diverging with a strong dynamic. A bearish crossover PM / MM occurred. A bearish parallel pattern is in progress for 4 to 15(?) periods.

Idea: as long as the dynamic for UQ increase, new lows (2400, 2000, LY) are expected.

Medium term: like a bearish parallel pattern

On a weekly basis, Bollinger band spread is maximal but continues to increase. A bearish non-crossover is the status for our 7 / 23 moving averages, stochastic and MACD. As long as our stochastic is not oversold, the collapse in progress will continue or amplify.

 Idea: 2 400 and 2 000 are our next objectives.

Short term: new bearish ATDMF pattern on a daily basis

On a daily basis, UD / LD spread is far away from its minimum level but increasing before a close below LD. With a close below LD this Friday (21/11) and an increase of the bullish dynamic for UD, a bearish ATDMF pattern will develop (+ a new low next Monday). Otherwise, as long as MD (3319) proves to be a resistance, a bearish pre-parallel pattern could develop. . As long as our 7 days moving average is down, a rise is only a technical recovery.

Idea: with a bearish T2, a collapse will develop.

Conclusion: with a daily bearish T2, 2401 is our first target and 2000 is the next one.