Long term: MY is the first target

On a yearly basis, Bollinger band spread is not minimal and could stay at the same level for some periods. Our 7 / 23 years moving averages will be without main trend. Our stochastic could be overbought next period. Our MACD is not overbought. MY is the first objective.

On a quarterly basis, the status for our stochastic and MACD is a bearish no-crossover. Next pattern for our 7 / 23 quarters moving averages will be a bearish A type crossover. LQ is our first support.

On a monthly basis, the UM / LM spread was maximal but shrinking. A bearish A type crossover is the status for our 7 / 23 months moving averages. The status for our stochastic and MACD is overbought. As long as our MACD is not oversold, LM / MY is our next target.

Idea: bearish as long as our quarterly stochastic is not oversold

Bet: LQ could fail as a support

R = MM (1.374);    S=  MY (1.2101), LQ (1.1545)

 

Medium term: bearish parallel pattern

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

Idea: use bearish parallel rules

Bet: collapse

R = MW (1.3742);     S = LM (1.2444)

 

 

Short term: lower

On a daily basis, UD / LD spread is increasing. A bearish no-crossover is in progress our stochastic and MACD. As long as our MACD is not oversold, the decline in progress will continue.

Idea: bearish without ATDMF pattern

Bet: a qualification into a bearish parallel pattern could develop with the bearish crossover PD / MD.

R = MD (1.3362);   S = LM (1.2444)

 

Conclusion: LM (1.2444) = first objective.