Yearly trend: bullish parallel pattern

On a yearly basis, MY acted as a support but T1 and PY price failed as supports. The status for our MACD is a bullish non-crossover. Our 7 / 23 years moving averages are always on a bull trend.

Idea: new bullish parallel pattern next period.

 

Long term: technical recovery

On a quarterly basis, the spread UQ / LQ is maximal but shrinking slowly. With our 7 / 23 quarters moving averages, a bearish B type crossover will develop. Stochastic and MACD are not oversold. With a close above MQ, UQ is our main objective.

On a monthly basis, the spread UM / LM is maximal. With our 7 / 23 months moving averages, a bullish A type crossover could develop.

Idea: a bullish non-crossover for our 7 / 23 quarters moving averages is not ruled out.

R= MM (79.91 at the close), UQ (112.49), +++;    S= PW (67.5)

 

Medium term: rise but not yet bullish

On a weekly basis, the level of volatility is not minimal. With our 7 / 23 weeks moving averages, a bullish non-crossover is in progress. Our stochastic and MACD are oversold.

Idea: with the monthly trend, nothing to do on a weekly basis.

R = MM (79.91 at the close), UQ (112.49);     S = MW (70.1)

 

Short term (nearest future contract): bullish parallel pattern

On a daily basis, Bollinger bands spread was not minimal when a bullish pseudo-T1 occurred. A bullish crossover PD / MD occurred with a nice dynamic for LD. As long as MD proves to be a support, a decline is only a technical move.

Idea: higher

R =  MM (79.91 at the close);     S = PD (77.23),MD (74.32)

 

 

Conclusion: less bullish than gold.