Long term: bearish as long as a monthly bearish parallel pattern is in progress
On a yearly basis, LY is flat. Our stochastic and MACD are overbought. Our 7 / 23 years moving averages are neutral but a bearish A type crossover will develop. Above MY (at the close), the recovery could extend. Otherwise, LY will be a target.
On a quarterly basis, Bollinger Bands spread look toppish. Our stochastic and MACD are not yet oversold. A bearish no-crossover could be the next status for our stochastic. A bearish A type crossover is the status for our 7 / 23 quarters moving. Lower prices are likely.
On a monthly basis, a bearish parallel pattern is in progress but PM failed as a resistance (M7 is up and position is now only 50 % from the initial one). A bearish no-crossover will develop with our 7 / 23 months moving averages. The status for our stochastic could be overbought next period. As long as MM proves to be a resistance, a decline is expected.
Idea: use bearish parallel rules for monthly pattern.
Bet: a bearish no-crossover will develop with our quarterly stochastic.
R = MM (1.6161, end of month); S = PM (1.4777), LM (1.3394).
Medium term: UW / LW spread is expending
On a weekly basis, with our 7 / 23 weeks moving averages, a bearish A type crossover is in progress. The status for our stochastic and MACD is a bearish no-crossover. Before the end of March, a qualification into bearish parallel pattern could be in hand.
Idea: Lower as long as our MACD is not oversold
Bet: UW trend will continue to increase
R = MD (1.5711); S = PM (1.4777).
Short term: decline
On a daily basis, a decline is in progress. As long as our MACD is not oversold, the decline will continue.
Idea: nothing to do
Bet: MD will act as a resistance.
R = MD (1.5711); S= PM (1.4777).
Conclusion: soon, LM will be a target for 2010.