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: weak as long as PQ (1018.8) proves to be a resistance.
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 is a bearish divergence. A bearish non-crossover could be the next status for our stochastic. 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 is in progress. UM (1009) is our main resistance. MW (854) is a strong support.
Idea: UM is flat = main resistance
R = UM (1009); S = MM (851.7)
Medium term: recovery / rise
On a weekly basis, Bollinger bands spread is not minimal but UW / LW bands are rising. 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 could continue.
Idea: recovery could continue…
R = UM (1009); S = MM (851.7)
Short term: flat
On a daily basis, Bollinger bands spread is not minimal, but with a new decline for prices the spread could increase and lead to a new drop. With our 7 / 23 days moving averages a non-crossover will develop today with a close below 938. With this hypothesis, a bearish non-crossover will be the status for our stochastic and MACD. MM (851.7) will be our favourite target.
Idea: Bearish, without ATDMF pattern, below 938.
R = MD (951), UD (999); S = 938, LD (902), MM (851)