Long term: PQ is our first target

On a yearly basis, Bollinger bands spread ids shrinking. The trend for our 7 / 23 years moving averages is slightly up. Our stochastic is oversold with a weak bullish no-crossover.

On a quarterly basis, LQ could turn up but the UQ / LQ spread is wide. A bullish A type crossover is in progress with our 7 / 23 quarters moving averages. Our stochastic and MACD are overbought with a bearish divergence for our stochastic. As long as PQ proves to be a support the decline in progress is only a technical move.

On a monthly basis, a bearish divergence for our stochastic with a bearish no-crossover for stochastic and MACD is in progress. LM / PQ is our main objective.

Idea: strong bearish signal with our stochastic quarterly bearish divergence

Bet: bearish trend at least until Q2 2011

 R = MM (118.22);    S = PQ (111.7), MY (110.3)

 

Medium term: bearish pattern

On a weekly basis, like a bearish bubble pattern is in progress (continuous contract, not yet on the March one).

Idea: UW / LW spread will increase in the future

Bet: new FED policy before March 2010

R =MW (117.85);      S = LD (114.61)

 

Short term: bearish parallel pattern

On a daily basis, a bearish parallel pattern is in progress.

Idea: use bearish parallel rules

Bet: new bear impulsion with a bearish no-crossover for our  7 / 23 days moving averages.

 

R = PD (116.28), MD (116.8);       S = LD (114.61)

 

Conclusion: bearish T4 next week for our weekly basis