Long term:  new bear trend in progress

On a yearly basis, Bollinger bands are down. A bearish no-crossover is the status for our 7 / 23 years moving averages. Our stochastic is overbought (next period, same pattern will develop with our MACD), the decline in progress should continue for four periods. 

On a quarterly basis, a bearish A type crossover is in progress with our 7 / 23 quarters moving averages. A bearish no-crossover is the status for our stochastic and MACD. A qualification into a bearish parallel is not ruled out.

On a monthly basis; a bearish parallel pattern is always in progress. A bearish no-crossover is in progress with our 7 / 23 months moving averages. The Bollinger bands spread is increasing. Stochastic and MACD are overbought. A collapse could develop before the end of 2010.

Idea: use monthly bearish parallel rules

Bet: lower than 1995 low (79.7)

R = MM (91.12);     S = 79.70 (Historical low), – – -.

 

Medium term: bear trend in progress

 On a weekly basis, a bearish A type crossover is in progress for our moving averages. The status for our MACD is a bearish no-crossover. A qualification into a bearish parallel qualification is in progress.

Idea: 79.7 will fail as a support

Bet: use bearish parallel rules

R = PW (84.18);           S = 1995 low (79.7), – – –

 

Short term:  bearish parallel pattern

On a daily basis, a qualification into a bearish parallel pattern is in progress.  

Idea:  use bearish parallel rules

Bet: towards Historical low.

R = PD (81.92);   S = LD (80.5), 80, 79.7, -.

 

Conclusion: below 79.7 is expected