Long term:  lower than Historical low?

On a yearly basis, Bollinger bands are shrinking and the spread is minimal. A bearish no-crossover is the status for our 7 / 23 years moving averages. Our stochastic will be overbought at the beginning of the next period (same pattern for our MACD?) The decline in progress should continue for some periods. Below 89.59 (Historical Low), a long tem collapse is not ruled out.

On a quarterly basis, Bollinger bands spread is not minimal but expending strongly. A soft bearish no-crossover is in progress with our stochastic and MACD. As long as our MACD is not oversold, the decline will continue.

On a monthly basis, Bollinger bands spread is not minimal but increase. For our 7 / 23 months moving averages, a bearish no-crossover is in progress. As long as our MACD is not oversold, the decline will continue.

Idea: below 89.5 a collapse, on a long term basis will develop.

Bet: yearly stochastic and MACD will be overbought in early 2011…

R = PM (125.65);     S = 100, 89.59 (Historical low), – – -.

Medium term: bearish 

 On a weekly basis; if PW acts as a resistance a qualification into a bearish parallel pattern could develop next week.

Idea: bearish no-crossover for our 7 / 23 weeks moving averages before the end of August

Bet: PW will act as a resistance

R = PW (114.74);           S = LW (103.91)

Short term: decline

On a daily basis, UD / LD spread is minimal. Our weekly trend is not yet bearish. With a decline below LD, a technical decline will be in progress.

Idea: lower as long as our stochastic is not oversold

Bet: bearish pre-parallel at the end of August.

R = MD (112.89);   S = LD (111.52), 109.6

Conclusion: not yet bearish