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)?

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), a new bull trend could develop. On a monthly basis, Bollinger bands spread is wide. A bullish non-crossover for our 7 / 23 months moving averages could develop next month (see -8 prices). Above PM (946.6), UM (1005) is our next objective. MW (826) is a strong support.

Idea: Above PM (946.6) a long term rise could develop.

R = PQ (1018);    S = MM (837) / MW (826)

 

Medium term: recovery

On a weekly basis, Bollinger bands spread is not minimal and LW is flat. The status for our 7 / 23 weeks moving averages is a bullish B 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. PM (946.6) is our first target.

Idea: towards LW (714), if MW (at the close) fails as a support.

R = PM (946.6), UM (1008);    S = MW (826)

 

 

 

 

Short term: higher?

On a daily basis, the spread UD / LD is expending. With our 7 / 23 days moving averages a bullish A type crossover is in progress. As long as our MACD is not overbought, the rise in progress will continue. MD (866) is our main support.

Idea: a bullish pre-parallel pattern could develop.

 

R = PM (946.6);      S = MD (866) 

 

 

Conclusion: towards PQ (1018) if UM (946.6) fails as a resistance.