Long term: bearish

On a yearly basis, a bearish T2 is in progress and Historical Low failed as a support.

On a quarterly basis, Bollinger bands are diverging. The status for our 7 / 23 quarters moving averages is a bearish A type crossover. Our stochastic and MACD are overbought for 3 periods or more. On a monthly basis, a bearish parallel pattern is in progress.

Idea: a collapse for some years.

R = MW (154.75);    S =  –

Medium term: bearish parallel pattern

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

Idea: use bearish parallel rules.

R = MW (154.75);    S = LW (109.71).

Short term: lower

On a daily basis, UD / LD spread was minimal until Tuesday when a close occurred below LD. Now this spread is increasing. The status for stochastic and MACD is a bearish non-crossover and is an A type crossover for our 7 / 23 days moving averages. A bearish ATDMF pattern could begin today if yesterday low fails as a support.

Idea: daily bearish ATDMF pattern could develop today.

R = 128.85;   S = 123.94, -.

Conclusion: daily bearish ATDMF pattern could develop today (21/01/2009).