Long term: bullish

On a quarterly basis, Bollinger bands spread is increasing. Our 7 / 23 quarters moving averages are up. Our stochastic and MACD will continue to rise. This bull trend will continue at least for three periods (mid 2011).

On a monthly basis, UM / LM spread is increasing. A bullish no-crossover is the status for our 7 / 23 months moving averages. Our stochastic and MACD are oversold. As long as PM proves to be a support, the bull trend in progress will continue or amplify.

Idea: buy long position

Bet:  bullish as long as PM proves to be a support (bullish pre-parallel pattern)

R= +, ++;    S= PM (122.89)

Medium term: bullish parallel pattern

On a weekly basis (continuous contract), a bullish parallel pattern is in progress.

Idea:  use bullish parallel rules

Bet: as long as our stochastic is not overbought, no technical correction could develop

R = UW (132.05), +, ++;   S = PW (127.37)

Short term: next week, qualification into a bullish parallel pattern

On a daily basis Bollinger bands spread is not minimal but the spread UD / LD increase dramatically.  With the weekly trend   a bullish crossover PD / MD is expected without correction. A bullish parallel pattern will be in hand.

Idea: buy long position next week

Bet: no decline before early September

R = UW (132.05);   S = MD (128.93)

Conclusion: very bullish