Long term: towards LY is not ruled out
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 yet overbought. 1.164 (2005 low) is the first objective and LY is the next one.
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 is expending. 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, the decline will continue.
Idea: bearish as long as our quarterly stochastic is not oversold (at least for 3 periods)
Bet: below LQ, LY is our main target.
R = MM (1.3673); S= MY (1.2075), 1.164, LQ (1.1486), LY (.9184)
Medium term: bearish parallel patternOn a weekly basis, a bearish parallel qualification is in progress.
Idea: use bearish parallel rules
Bet: collapse
R = MW (1.3337); S = MY (1.2075)
Short term: bearish parallel pattern
On a daily basis, a bearish parallel pattern qualification is in progress.
Idea: use bearish parallel rules
Bet: a sell-off could develop at any time
R = PD (1.2565); S = MY (1.2075)
Conclusion: LQ (1.1486) is not a strong support.