Long term: new bear trend?
On a yearly basis, Bollinger bands could be flat next period. The trend for our 7 / 23 years moving averages is slightly up. 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 (worst for the 30 Y US T-Bond contracts). With this hypothesis, MQ is our first support. LQ is flat. PQ could act as a support.
On a monthly basis, UM / LM spread is near its maximal level. A bearish B type crossover could develop for our 7 / 23 months moving. A bearish non-crossover could be the status for our stochastic (and a bearish divergence is in progress). LM is our next objective.
Idea: with a close below MM, LM is our main target.
R = UW (119.28), UM (124.96); S = LM (111.09), PQ (110.61), MY (109.42)
Medium term: UW / LW spread is minimal
On a weekly basis, UW / LW spread is near its minimal level. Our 23 weeks moving average will continue to decline. UW is our main resistance.
Idea: as long as our MACD is not overbought, UW is our main target.
R = UW (119.28); S = MW (117.2), LW (114.92)
Short term: neutral
On a daily basis, UD / LD spread is maximal. Above MD, UD could be our next target..
Idea: bearish pre-parallel pattern if MD acts as a resistance.
R = MD (118.25), UD (119.74); S = LD (117.17)
Conclusion: with a bearish divergence as a status for our quarterly stochastic, a similar pattern could develop on the yearly basis.