Yearly trend: main trend is bearish

On a yearly basis, our 7 periods moving average is and will stay bearish for some periods. Our stochastic is overbought.

Idea: 1998 low at 1.95 could be a target.

 

Long term: bear trend

On a quarterly basis, Bollinger bands spread is above its (previous) maximal level but increase. A bearish A type crossover is in progress with our 7 / 23 quarters moving averages. Our stochastic and MACD are overbought for some periods.

On a monthly basis, our analysis is the same as the quarterly one.

Idea: next pattern for our monthly stochastic could be a bearish non-crossover.

R = PM (5.08);    S = 1.95

 

Medium term: bearish parallel pattern

On a weekly basis, a bearish parallel pattern is in progress since 10 of August. As long as MW proves to be a resistance, the bear trend could amplify.

Idea: use bearish parallel rules

R = MW (3.607);    S = 1.95

 

 Short term: neutral

On a daily basis, UD / LD spread is not far away from its minimal level. UD is a strong resistance and LD could fail as a support.

Idea: a bearish ATDMF could develop with a close below LD.

 

R = UD (3.249);    S = LD (2.59)

 

 

Conclusion: very bearish as long as MW (3.607) proves to be a resistance.