Long term: bullish
On a yearly basis, the status for TAM tools is a bullish no-crossover. 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. A PEI is not ruled out with our stochastic and MACD. UQ is our first objective.
On a monthly basis, the spread for Bollinger bands is above a reference one. TAM tools are neutral.
Idea: recovery as long as MM = support
Bet: none
R = UM (126.88); S = MM (120.84), PM (117.92)
Medium term (September contract): bullish
On a weekly basis, UW / LW spread is increasing. A PEI is in progress with our stochastic and MACD.
Idea: bullish as long as our MACD is not overbought
Bet: a type II is expected.
R = PM (123.72); S = PW (118)
Short term: Bullish parallel
On a daily basis, a bullish parallel pattern is in progress.
Idea: use bullish parallel rules
Bet: higher.
R = PM (123.72); S = MD (121.48)
Conclusion: higher on a medium term basis.