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

Bet: Bollinger Bands spread will continue to increase

 

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 could develop. Stochastic and MACD are not oversold. The technical recovery in progress could stop at any time. UQ is too far away to be a target.

On a monthly basis, the spread UM / LM is maximal. With our 7 / 23 months moving averages, a bullish B type crossover will develop. As long as our stochastic is not overbought, the rise in progress could continue.

Idea: not bearish for some months

Bet: flat on a monthly basis

R= UW (84.19), 90, UQ (113.07),    S= MW (75.25), LW (66.31)

 

Medium term: rise but not yet bullish

On a weekly basis, the level of volatility is not far away from its minimal level. With our 7 / 23 weeks moving averages, a weak bullish non-crossover is in progress. Our stochastic and MACD are oversold. With the monthly trend, no bullish pattern could develop.

Idea: rise as long as MW proves to be a support.

Bet: no bullish pattern in Q1 and Q2 2010.

R = UW (84.19);     S = MW (72.25)

  

Short term (nearest future contract): rise

On a daily basis, UD / LD spread is above its maximal level. As long as our 7 days moving average is up, a decline is only a technical move.

Idea: rise as long as MD = support.

Bet: like a casino.

R = UW (84.19);          S = 80, MD (76.95)

 

 

Conclusion: recovery / rise in progress