Yearly trend: higher

 

On a yearly basis, the pattern in progress looks like a parallel pattern. The current status for our MACD is a bullish no-crossover. Our 7 / 23 years moving averages are always on a bull trend.

Idea: higher with UY / LY spread increasing each week

Bet: 87.15 (2010 high) is our first resistance

 

Long term: neutral

On a quarterly basis, the spread UQ / LQ is maximal. With our 7 / 23 quarters moving averages, a bullish pseudo no-crossover could develop this year. MACD and stochastic indicators are without trend.

On a monthly basis, the spread UM / LM is shrinking but is far away from its minimal level. Our moving averages, stochastic and MACD are neutral.

Idea: a bullish no-crossover could be the status for our MACD

Bet: MM will act as a support

R= 87.15, UM (91.12);    S= MM (72.27)

 

Medium term: recovery

On a weekly basis, UW and LW are up. Our 7 / 23 weekly moving averages are up. Stochastic and MACD indicators are oversold. As long as our MACD is not overbought, the recovery in progress will continue.

Idea: UM is a strong resistance

Bet: higher in October

R = UM (91.12);     S = MW (77.48)

  

Short term: neutral

On a daily basis, UD / LD spread is not minimal. With an oversold status for our MACD, a bullish no-crossover could develop with our 7 / 23 days moving averages.  Above UD, UM is our next objective.

Idea: with an oversold status for our stochastic, UD will be a target

Bet: UD is our next target.

R = UD (84.83);          S = MD (81.31)

 

Conclusion: above annual high is not ruled out (declining $?)