Long term: bullish trend for 2009

On a quarterly basis, Bollinger bands spread is minimal. Bollinger bands are slightly up. A bullish A type crossover will be the next status for our 7 / 23 quarters moving averages. PQ (120.89) failed as a resistance. 124.60 (Historical high) is the first target. As long as our MACD is not overbought, the rise will continue or amplify.

On a monthly basis, the spread UM / LM is near its minimal level. Bollinger bands are diverging. With our 7 / 23 moving averages, the status is a bullish A type crossover. Our MACD is oversold. A nice dynamic is in progress with LM. As long as our MACD is not overbought, the bull trend will continue or amplify.

Idea: ECB will act again and again in 2009.