Long term: new bear trend

On a yearly basis, UY is flat. The trend for our 7 / 23 years moving averages is not bearish. Our stochastic could be overbought at the end of this period with a bearish divergence. Below MY, the main trend will be bearish.

On a quarterly basis, for our stochastic the status is a bearish divergence (wait the end of Q3 for a validation). With this hypothesis, MQ is our first support. LQ is flat.  On a monthly basis, our 7 / 23 moving averages are not bearish. A bearish B type crossover is not ruled out before this autumn. The pattern with our Bollinger bands was like a bullish parallel one but a close occurred below MM. A bearish non-crossover is the status for our stochastic (and a bearish divergence is in progress). LM is our next objective.

Idea: a bearish divergence on a yearly time frame could develop (never seen on a quarterly basis).

 R = MW (119.58);    S = MQ (112.25), LM (110.38), MY (109.39), LQ (101.93)

Medium term: bearish without ATDMF pattern

On a weekly basis, the status for our 7 / 23 weeks moving averages is a bearish A type crossover.  The decline in progress could continue or amplify as long as our MW proves to be a resistance (end of a week).

Idea: recovery above MW

R = MW (119.58);      S = LW (113.22), LM (110.38), –

 Short term: decline with a close below MD

On a daily basis, UD / LD spread is not minimal. Our stochastic and MACD are overbought.  With a close below MD, LW is our next objective.

Idea: focus on Thursday close.

R = UD (119.06);       S = MD (116.53), LD (113.99)

Conclusion: with a bearish divergence as a status for our quarterly stochastic (end of Q3), a Major financial crisis will develop.