Long term basis: out of monthly short position?

On a yearly basis, the status for our stochastic is overbought.

On a quarterly basis, Bollinger bands spread is maximal. LQ is our main support. The dynamic for our 7 quarters moving average is strong and will increase for 2 periods or more. A bearish B type crossover is in progress with our 7 / 23 quarters moving averages. With a bearish non-crossover for our stochastic a collapse towards LQ is expected. Otherwise, a recovery towards MQ could develop.

On a monthly basis; a bearish parallel pattern is in progress as long as MM proves to be a resistance (end of period). With our 7 / 23 months moving averages, a bullish crossover / bearish non-crossover will develop within 3 months. The status will give the trend for the full year 2010.

Idea: in mid October long term forecast will be easier.

R = MM (3775, end of month), MQ (4545);    S = MW (3367), LW (2951), LQ (2780)

Medium term: higher

On a weekly basis, Bollinger band spread is not minimal. A bullish non-crossover is in progress with our 7 / 23 weeks moving averages, stochastic and MACD. As long as the pattern for our 7 / 23 weeks moving averages is not a bearish A type crossover, a decline is only a technical correction.

Idea: LW is a strong support. 

R = MM (3775, end of month), MQ (4545);        S= MW (3367), LW (2951)

Short term: very bullish without ATDMF pattern

On a daily basis, Bollinger bands spread is not minimal. A bullish non-crossover is the status for our 7 / 23 days moving averages and for our MACD. Prices could soar towards MQ.

Idea: as long as the status for our 7 / 23 days moving averages is not a bearish A type crossover, a decline is only a technical correction.

R = MM (3775, end of month), MQ (4545);       S= MD (3671), LD (3530)

Conclusion: a rise towards MQ (4545) is not ruled out.