Long term: flat
On a monthly basis, TAM are without clear trend.
Idea: none
Bet: decline as long as MM proves to be a resistance.
R= MM (99.144) S= LM (98.853)
Medium term: weak
On a weekly basis (continuous contract), Bollinger bands spread is not a reference one. A PEI will develop with our 7 / 23 weeks moving averages. Below PW, LW is our main target.
Idea: focus on PW
Bet: towards LW.
R = MW (98.985); S = PW (98.909), LW (98.869)
Short term: lower
On a daily basis, Bollinger bands spread is expending. A PEI could develop with our stochastic. As long as our MACD is not oversold, the decline in progress will continue.
Idea: PEI on TAM could develop
Bet: nothing to do.
R = 98.945, MD (98.986) S = PW (98.909)
Conclusion: long 3M Eurodollar + short 3M Euribor