Long term: New Historical High
On a yearly basis, a bullish non-crossover occurred between prices and PY (4 and 3 periods ago). With a close above open price, this pattern could be very bullish.
On a quarterly basis, UQ / LQ spread is maximal and Bollinger bands are diverging. Stochastic and MACD are oversold for 3 periods or more (a bullish non-crossover is in progress). The dynamic for our 7 quarters moving average is strong. A bullish A type crossover is in progress with our 7 / 2 3 quarters moving averages. A New High for the contract is in progress.
On a monthly basis (Sept. 09 contract) a bullish parallel pattern is in progress.
Idea: bullish as long as MW (98.841) = support (end of a week)
Medium term: bullish
On a weekly basis, a bullish parallel pattern is in progress. Close a bullish position with a weekly close below MW (98.841).
Idea: use bullish parallel rules.
R = UM (99.535), +++; S = MW (98.841).
Short term: bullish parallel pattern
On a daily basis a bullish crossover PD / MD occurred with a bearish dynamic for LD. A bullish parallel pattern is in progress.
Idea: use bullish parallel rules.
R = UM (99.535), +++; S = MD (98.082)
Conclusion: see short term analysis