Long term: lower
On a yearly basis, Bollinger band spread is not minimal, Bollinger bands could be flat. Our 7 / 23 moving averages will be without main trend. Our stochastic could be overbought next period.
On a quarterly basis, the status for our stochastic and MACD is a bearish no-crossover. As long as MQ proves to be a support, a technical decline is in progress. Below MQ (at the close), LQ will be our main target.
On a monthly basis, the UM / LM spread is maximal. A bearish A type crossover will be the next status for our 7 / 23 months moving averages. The status for our stochastic and MACD is overbought. As long as MM proves to be a resistance, LM could be a target.
Idea: with a bearish A type crossover for our monthly moving averages, the bear trend will extend.
Bet: MM will act as a resistance
R = MM (1.3994), UY (1.5109); S= MQ (1.3571), LM (1.2433)
Medium term: next pattern could be a bearish parallel one
On a weekly basis, Bollinger bands spread was thin when a close below LW occurred. If UW trend is up for two periods, a bearish parallel qualification will be in hand for our weekly pattern.
Idea: a new bearish parallel pattern will develop if MD acts as a resistance this week
Bet: bearish no-crossover for our stochastic.
R = MD (1.3861); S = MQ (1.3571)
Short term: bearish parallel pattern
On a daily basis, a bearish parallel pattern is in progress.
Idea: use bearish parallel rules
Bet: as long as M23 trend is down, a recovery is only a technical recovery.
R = MD (1.3861), UD (1.4216); S = LD (1.3506)
Conclusion: with a weekly bearish parallel pattern, LM could be a target this year.