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 (1010) is our main resistance. MW (845) is a strong support.

Idea: monthly bearish divergences for our stochastic and MACD

R = UM (1010), PQ (1018.8), 1032.8, +;    S = MW (845.4)

 

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 could continue.

Idea: recovery could continue…

R = UM (1010);    S = MW (845.4)

  

Short term: flat

On a daily basis, Bollinger bands spread is not minimal. With our 7 / 23 days moving averages a bearish B type crossover is expected. As long as our MACD is not oversold, LD (896) is our main target.

Idea: without trend.

 

R = UD (1004);      S = LD (896)

 

 

Conclusion: not bullish as long as PQ (1018.8) = resistance.