Yearly trend: bullish for more than 2 years.

On a yearly basis, a bullish parallel pattern is in progress. The dynamic for each band is very strong. PY will cross MY in more than two periods.

Idea: bullish non-crossover for our stochastic.

 

Long term: above PQ (1018.8)?

On a quarterly basis, the pattern is a bullish parallel one. The dynamic for our 7 / 23 quarters moving averages is bullish. Next quarters, – 8 prices will increase. Without an increase for next prices, a bullish non-crossover could develop between our 7 / 23 quarters moving averages. The status in progress for our stochastic could be a bearish divergence. Above PQ (1018.8), a new bull trend could develop with a bullish non-crossover for our MACD and a strong bull trend for our 7 / 23 quarters moving averages. On a monthly basis, Bollinger bands spread is wide. A bullish non-crossover for our 7 / 23 months moving averages could / will develop next month (see -8 prices).  UM (1015) is our next objective. MW (840.7) is a strong support.

Idea: with an oversold status for our stochastic (early March) a long term rise could develop.

R = PQ (1018.8), 1032.8, +;    S = MM (839) / MW (840.7)

 

Medium term: recovery / rise

On a weekly basis, Bollinger bands spread is not minimal but UW / LW spread is expending. Now, the status for our 7 / 23 weeks moving averages is a bullish A type crossover. In last November a bullish non-crossover occurred with our stochastic and MACD. As long as our MACD is not overbought, the rise in progress will continue.

Idea: higher with an increase of our volatility.

R = PQ (1018.8);    S = MW (840.7)

 

 

 

 

Short term: higher

On a daily basis, Bollinger bands spread is not minimal (MD is up). With our 7 / 23 days moving averages a bullish non-crossover is in progress. As long as our MACD is not overbought, the rise in progress will continue.

Idea: not bullish with LD which is flat.

 

R = PQ (1018.8);      S = MD (938.5)

 

 

 

Conclusion: rise above PQ (1018.8).