Or : focus on 1033 $

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: bullish above Historical High (1033)

On a quarterly basis, the pattern is a bullish parallel one. The dynamic for our 7 / 23 quarters moving averages is bullish. The status in progress for our stochastic is a bearish divergence and a bearish non-crossover. With our MACD, a bullish non-crossover is in progress. Above UQ a new bull move will develop if 1033 fails as a resistance. On a monthly basis, our 7 / 23 moving averages will continue to rise. A bullish non-crossover is in progress with our stochastic. As long as MM (874) proves to be a support, a decline is only a technical move.

Idea: PQ / UQ / 1033 levels could be a strong resistance

R = UQ (1026.8), 1033, +++;    S = MM (874)

 

Medium term: without trend

On a weekly basis, Bollinger bands spread is not yet minimal and Bollinger bands are slightly up. But with an increase for prices the spread UW / LW could increase. Our stochastic and MACD are oversold. Our 7 / 23 weeks moving averages are up (not far away from a bullish non-crossover). As long as MW (915) proves to be a support, a rise above UW (981) is not ruled out.

Idea: perhaps a bullish ATDMF pattern next week if PW (965) fails as a resistance

R = UW (981), UQ (1026.8);          S = MW (915)

  

 

Short term: bullish

On a daily basis, a bullish non-crossover is the status for our 7 / 23 days moving averages and for our MACD. If UW (981) fails as a resistance + LW trend is down, a bullish trend (without ATDMF pattern) will develop. UQ (1026.8) will be our first resistance.

Idea: rise, as long as MD (918) = support

 

R = UQ (1026.8), +;      S = MD (918)

 

 

Conclusion: not bullish (medium / long term) as long as 1033 = resistance.

 

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