Yearly trend: higher
On a yearly basis, the pattern in progress looks like a parallel pattern. The current status for our MACD is a bullish no-crossover. Our 7 / 23 years moving averages are always on a bull trend.
Idea: higher with UY / LY spread increasing each week
Bet: 87.15 (2010 high) is our first resistance
Long term: neutral
On a quarterly basis, the spread UQ / LQ is maximal. With our 7 / 23 quarters moving averages, a bullish pseudo no-crossover could develop this year. MACD and stochastic indicators are without trend.
On a monthly basis, the spread UM / LM is shrinking but is far away from its minimal level. Our moving averages, stochastic and MACD are neutral.
Idea: UM is a strong resistance
Bet: MM will act as a support
R= 87.15, UM (91.13); S= MM (72.27)
Medium term: recovery
On a weekly basis, UW and LW are up. Our 7 / 23 weekly moving averages are up. stochastic and MACD indicators are oversold. As long as our MACD is not overbought, the recovery in progress will continue.
Idea: UM is a strong resistance
Bet: higher in October
R = UM (91.13); S = MW (76.6)
Short term: bullish parallel?
On a daily basis, a bubble is in progress. A bullish crossover PD / MD occurred. With a bullish no-crossover for our MACD, 80.3 could act as a support. A bullish parallel qualification will be in hand.
Idea: as long as MD = support, a decline is only a technical move
Bet: bullish no-crossover for our MACD.
R = UM (91.13); S = MD (78.05)
Conclusion: above annual high is not ruled out (declining $?)