Long term: towards MY (1.2054)

On a yearly basis, Bollinger band spread is not minimal and LY is flat. Within two periods our 7 / 23 moving averages will be neutral. MY (1.2054) is our first support.

On a quarterly basis, the trend for our 7 / 23 quarters moving averages is not bearish but a bearish A type crossover is not ruled out before year’s end. Our stochastic and MACD are overbought. Prices closed below MQ. Below MY (1.2054), LQ (1.1258) could be a target.

On a monthly basis, the UM / LM spread is maximal but expending. A bearish A type crossover is the status for our 7 / 23 months moving averages. The status for our stochastic and MACD is not yet oversold. LM (1.2248) is our main objective.

Idea: a trading range could emerge.

R = UW (1.3877), MM (1.4308);    S =LM (1.2252), MY (1.2054)

Medium term: without trend

On a weekly basis, Bollinger bands spread is maximal. PW failed as a resistance. Within one month, a clear trend will develop with our 7 / 23 weeks moving averages. UW (1.3877) is our main resistance and LW (1.2496) is our main support.

Idea: towards UW with a bullish non-crossover as a status for our stochastic and MACD

R = UW (1.3877), 1.4;   S = MW (1.3187), LW (1.2496)

Short term: UW = resistance

On a daily basis, the spread UD / LD is not minimal but expending. Our 7 / 23 days moving averages status is a bullish A type crossover. A bullish non-crossover is in progress with our MACD. As long as UW (1.3877) is a resistance, the trend in progress is only a rise.

Idea: nothing to do

R = UW (1.3877), 1.4;    S = MD (1.3263)

Conclusion: trading range on a weekly basis (until July?).