Yearly trend: UQ = strong resistance

On a yearly basis, MY acted as a support but T1 and PY price failed as supports. The status for our MACD is a bullish non-crossover. Our 7 / 23 years moving averages are always on a bull trend.

Idea: higher

 

Long term: technical recovery

On a quarterly basis, the spread UQ / LQ is maximal but shrinking slowly. With our 7 / 23 quarters moving averages, a bearish B type crossover will develop. Stochastic and MACD are not oversold. With a close above MQ, UQ is a far away strong resistance.

On a monthly basis, the spread UM / LM is maximal. With our 7 / 23 months moving averages, a bullish A type crossover could develop. MM could act as a resistance.

Idea: not bullish as long as MM = resistance (at the close)

R= MM (78.65 at the close), UQ (112.51), +++;    S= PW (70.26)

 

Medium term: rise but not yet bullish

On a weekly basis, the level of volatility is not minimal. A bullish crossover PW / MW could develop with a nice dynamic for LW. With our 7 / 23 weeks moving averages, a bullish non-crossover is in progress. The next status for our MACD could be a bullish non-crossover. With the monthly trend, no bullish pattern could develop.

Idea: rise as long as our MACD is not overbought. 

R = MM (78.65 at the close);     S = MW (70.25)

 

 Short term (nearest future contract): UD / LD spread is minimal

On a daily basis, a bullish pattern could develop with a bullish T1.

Idea: nothing to do this week.

R = UD (81.97);     S = LD (75.15)

 

 

Conclusion: not bullish as long as MM = resistance (end of period)