Long term:  new bearish trend in progress

On a yearly basis, Bollinger bands are slowly down. A bearish no-crossover is the status for our 7 / 23 years moving averages. Our stochastic is overbought (next period, same pattern could develop with our MACD), the decline in progress should continue for some 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. Bollinger bands spread will continue to extend. A qualification into a bearish parallel is likely.

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

Idea: use monthly bearish parallel rules

Bet: lower than 1995 low (79.7)

R = MM (92.12);     S = 79.70 (Historical low), – – -.

Medium term: bearish parallel qualification in September

 On a weekly basis, a bearish A type crossover is in progress for our moving averages. The status for our stochastic and MACD is a bearish no-crossover. With the bearish trend, a qualification into a bearish parallel pattern will develop in September if last week high (86.37) proves to be a resistance.

Idea: 79.7 will fail as a support

Bet: in September, qualification into a bearish parallel pattern

R = 86.37, MW (89.88);           S = 1995 low (79.7), – – –

Short term:  new bearish pattern?

On a daily basis, a bearish no-crossover occurred with PD. With an overbought status for our MACD, a new bearish no-crossover will develop with our 7 / 23 days moving averages. With these statuses, a qualification into bearish parallels will be in hand. Otherwise, above MD, UD could be our main resistance.

Idea:  bearish until next week close

Bet: MD will act as a resistance

R = MD (86.23), UD (87.72);   S = 79.7, -.

Conclusion: lower