Long term: below LY (1.3634)
On a yearly basis, Bollinger bands spread is expending. Our stochastic and MACD are overbought. The collapse could continue.
On a quarterly basis, Bollinger bands spread increase. Our stochastic and MACD are overbought. A bearish A type crossover is the status for our 7 / 23 quarters moving averages. A new low is expected.
On a monthly basis, a bearish parallel pattern is in progress.
Idea: a quarterly bearish ATDMF pattern is expected.
R = MW (1.5365); S = LY (1.3653), -.
Medium term: bearish parallel pattern in progress
On a weekly basis, a bearish parallel pattern is in progress.
Idea: use bearish parallel rules.
R = MW (1.5365); S = LW (1.3316)
Short term: Bollinger band spread is maximal
On a daily basis, Bollinger bands spread is maximal. UD (1.5015) acted as a resistance. If MD (1.4341) fails as a support, LD (1.3667) is our next objective. Otherwise, as long as MD proves to be a support, a recovery towards UD (1.5015) is not ruled out.
Idea: with our M23 trend, MD should fail as a support.
R = UD (1.5015); S= MD (1.4341), LD (1.3667).
Conclusion: LD (1.3667) will be a strong support in February.