Long term: towards MY (1.2043)
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 (1.2043) 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 (1.2043), LQ (1.1243) 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 (1.2285) is our main objective.
Idea: new bearish sentiment with LQ as a target.
R = MQ (1.3318), PW (1.3583); S =LM (1.2285), MY (1.2043), LQ (1.1243)
Medium term: PW = resistance
On a weekly basis, Bollinger bands spread is maximal. PW acts as a resistance. A close below MW occurred. LW (1.2386) is our next objective.
Idea: decline with an overbought status for our stochastic (next Monday).
R = MW (1.3219), PW (1.3583); S = LW (1.2386)
Short term: sell-off?
On a daily basis, the spread UD / LD is not minimal. The status for our stochastic and MACD is a bearish non-crossover. A bearish A type crossover is the new status for our 7 / 23 days moving averages. If 1.2885 (current low) fails as a support, LW (1.2386) is our next target. Otherwise, a bearish pre-parallel pattern could develop.
Idea: decline as long as MD (1.3233) = resistance
R = MD (1.3233); S = 1.2885, LW (1.2386)
Conclusion: towards LW (1.2386) and lower afterwards.