Long term basis: technical recovery in progress

On a yearly basis, the status for our stochastic is overbought. Our 7 / 23 years moving averages are up but have a look on  – 8, – 7 , -6  prices).

On a quarterly basis, Bollinger bands are flat but LQ / UQ spread could / will increase with lower prices. The bearish B type crossover could be modified into a bearish A type crossover. Within two periods, a bearish no-crossover could be the status for our MACD.

On a monthly basis; with our 7 / 23 months moving averages, a bearish pseudo no-crossover is not ruled out. With this hypothesis, a bearish no-crossover will be the status for our quarterly MACD. As long as our MACD is not overbought, a bullish pre-parallel pattern could develop.

Idea: bullish no-crossover with our monthly stochastic

Bet: towards UM

R = UM (4360);    S = MM (3498), LM (2637)

 

Medium term: higher

On a weekly basis, a bullish A type crossover is the status for our 7 / 23 weeks moving averages. With the monthly trend no bear pattern could develop. MW is our first support. The rise in progress will continue as long as our MACD is not overbought.

Idea: towards UM

Bet: no bear trend as long as LW proves to be a support (end of period)

 

R = UW (4048), UM (4360)               S= MW (3825), LW (3602)

  

Short term: rise

On a daily basis, a bullish no-crossover is in progress with our 7 / 23 days moving averages. As long as MD proves to be a support, the rise in progress could continue.

Idea: end of the rise if M23 trend is down

Bet: choppy

R = UW (4048);     S= MD (3891), LD (3745)

 

Conclusion: UM is a very strong resistance