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: UY is a first resistance

 

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. Without a close above MQ, the recovery could be over.

On a monthly basis, the spread UM / LM is maximal. With our 7 / 23 months moving averages, a bearish non-crossover could develop if MM proves to be a resistance.

Idea: as long as MM proves to be a resistance, the rally in progress since January is only a technical recovery.

R= UY (76.27), MM (79.69), +++;    S= LW (63.84)

 

Medium term: flat

On a weekly basis, with our 7 / 23 weeks moving averages, a weak bearish B type crossover could develop. Our stochastic and MACD are neutral.

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

R = UW (74.73);    S = LW (63.84)

 

 Short term (nearest future contract): UD / LD spread id not minimal

On a daily basis, Bollinger bands are flat.  A bullish non-crossover is in progress with our stochastic and our MACD. UD is our main target.

Idea: nothing to do.

R =  UD (73.89), UW (74.73);    S = LD (66)

 

 

Conclusion: as long as MM (79.69) proves to be a resistance, the rise in progress is only a technical recovery