Long term: towards LM is not ruled out
On a yearly basis, the status for our 7 / 23 years moving averages is a bullish no-crossover. The same status is in progress for our stochastic. The rise in progress could extend for some periods. Current Historical high is our first objective.
On a quarterly basis, UQ / LQ spread is wide. A bullish A type crossover is in progress with our 7 / 23 quarters moving averages. Our stochastic and MACD are overbought. Current Historical high could be an objective.
On a monthly basis, the spread for Bollinger bands spread is wide and bands are flat. A bearish A type crossover could develop this year with our 7 / 23 quarters moving averages Our stochastic and MACD are overbought. LM could be a target.
Idea: LM is a strong support.
Bet: lower below last month low (118.53).
R = MM (119.79); S = 118.53, PQ (115.43), LM (113.14)
Medium term: lower for some weeks
On a weekly basis, UW / LW spread was a reference one and continue to expend. A bearish A type crossover is in progress with our 7 / 23 weeks moving averages. A PEI is in progress with our stochastic. A NEI is in progress on the monthly pattern.
Idea: MW is a strong resistance
Bet: towards 118.53
R = MW (124.12); S = 118.53
Short term: Bollinger bands spread is minimal
On a daily basis, a bearish no-crossover is in progress with our 7 / 23 days moving averages. Below PD, our stochastic and MACD will be overbought. With this hypothesis, a decline without a bearish pattern (a qualification is expected next week) will develop.
Idea: very weak with an overbought status for our MACD
Bet: PD will fail as a support.
R = MD (119.99); S = PD (118.89), –
Conclusion: lower below PD