Long term: toppish

On a quarterly basis, a bullish T2 failed with LQ which is flat. But our 7 / 23 quarters moving averages, stochastic and MACD are up. Within 2 or 3 periods, a bearish divergence will be the status for stochastic and MACD. MQ (117.48) could be a target.

On a monthly basis, like a bullish bubble pattern failed (quarterly time frame was not bullish when a monthly pseudo- bullish “T2” occurred and LM was flat in T4). A decline will develop when our stochastic will be overbought (month’s end).

Idea: not bearish as long as our monthly stochastic is not overbought.

Medium term: decline below LW (121.65)

On a weekly basis, Bollinger bands spread is minimal. A bearish B type crossover is in progress with our 7 / 23 moving averages. A bearish non-crossover is the status for our stochastic and MACD. Below LW (121.65), MQ (117.48) is our next objective.

Idea: below PW.

R = MW (123.74), UW (125.83);   S = LW (121.65), MQ (117.48)

Short term: lower

On a daily basis, the spread UD / LD is wide. Our 7 / 23 days moving averages are slightly bearish. Our stochastic and MACD are oversold. MD (123.16) is our first resistance and LD (121.55) is our first support.

Idea: below LD (121.55) if MD = resistance

R = MD (123.16), UD (124.77);   S = LD (121.55), MQ (117.48)

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Conclusion: not bullish