Long term basis: not yet bullish

On a yearly basis, the status for our stochastic is overbought. With our 7 / 23 years moving averages, a bearish B type crossover will develop before 2014. As long as MY (end of period) proves to be a support, the recovery could continue. Next supports are 2003 low and LY.

On a quarterly basis, LQ / UQ spread is maximal. MQ is our next resistance. Above MQ, UQ is our next target. But, a bearish no-crossover could develop with our moving averages. With this hypothesis, LQ is our main objective.

On a monthly basis, Bollinger bands spread is minimal. With a NEI in progress on the quarterly basis, as long as MM proves to be a support, UM is our maximal target. With a close below MM, May 2010 low is our first objective and LM is the next one.

Idea: weak as long as quarterly M 23 is not bullish

Bet: on a quarterly basis, a bearish no-crossover could develop with our moving averages.

R = MQ (4330); S = MM (3788), May 2010 low (3287), 2003 low (2401)

Medium term: weak

On a weekly basis, UW / LW spread is minimal. Our stochastic and MACD are overbought. A bearish A type crossover is not ruled out. With a NEI on the weekly time frame, no bear trend could develop before mid-June.

Idea: towards MM as long as MW proves to be a resistance

Bet: a bearish no-crossover could develop within one month.

R = MW (4008) S= LW (3866), MM (3788)

Short term: weak

On a daily basis, a PEI is the status for our MACD.

Idea: as long as MD proves to be a resistance, a bear trend could develop.

Bet: MD = strong resistance.

R = MD (4010); S= LW (3866)

Conclusion: bearish with a close below MM (3788).