Long term basis: not bullish

On a yearly basis, the status for our stochastic is overbought. With our 7 / 23 years moving averages, a bearish B type crossover will develop before 2014.  As long as MY (end of period) proves to be a support, the recovery could continue. Next supports are 2003 low and LY.

On a quarterly basis, LQ / UQ spread is increasing with lower prices. A bearish no-crossover could be the status for our MACD (end of period). With this hypothesis, a collapse is in hand. Otherwise, above PQ, MQ is our next objective.

On a monthly basis, Bollinger bands spread is minimal. With the quarterly trend, as long as MM proves to be a support, UM is our maximal target. With a close below MM, May 2010 low is our first objective and LM is the next one.

Idea: focus on our quarterly MACD status (end of period)

Bet: a bearish no-crossover with PQ could develop  

R = UM (4155);    S = MM (3553), May 2010 low (3287), LM (2951), 2003 low (2401), LY (897)

 

Medium term: rise

On a weekly basis, Bollinger bands spread is minimal. LW is not diverging. A bullish B type crossover is in progress with our 7 / 23 weeks moving averages. A bullish no-crossover is the status for our stochastic and MACD. As long as our MACD is not overbought, the rise in progress will continue. Below MW, LW is our next objective.

Idea: not bullish

Bet: forget this time frame

 

R = UM (4155);               S= MW (3619), LW (3406)

 

 Short term: UD / LD spread is expending slowly

On a daily basis, a bullish A type crossover is in progress with our 7 / 23 days moving averages. As long as our MACD is not overbought, the recovery in progress could continue.

Idea: with the weak no-crossover as a status for our MACD, the rise could continue

Bet: a rise could develop, not a bullish trend.

R = PM (4026);     S= MD (3752), LD (3678)

 

Conclusion: long in gold not in CAC 40.