Long term: quarterly bearish divergences for our stochastic and MACD?

On a quarterly basis, a bullish T2 failed with LQ which is not on the down side. But our 7 / 23 quarters moving averages, stochastic and MACD are up. With a close below MQ (117.33), a bearish divergence could develop for our stochastic and MACD. With this hypothesis, LQ (110.06) will be our main 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 could develop with the current overbought status for our stochastic and MACD.  MM (117.43) is our first objective and PM (114.82) is the next one.

Idea: with a Q2 close below MQ (117.33), a (bearish) tsunami is not ruled out.

R= PW (122.44);   S= MM (117.43), PM (114.62), LQ (110.06)

Medium term: lower

On a weekly basis (continuous contract), a bearish A type crossover is in progress with our 7 / 23 moving averages. A bearish non-crossover is in progress with our stochastic and MACD.

Idea: if UW trend increase, a collapse could develop.

R = MW (122.33);   S = MM (117.43), PM (114.62)

Short term: bearish parallel pattern

On a daily basis, a bearish parallel pattern is in progress.

Idea: use bearish parallel rules.

R = MD (119.66);   S = LD (117.56), –

Conclusion: with a Q2 close below MQ (117.33), a (bearish) tsunami is not ruled out