Long term basis: towards LQ or lower

On a yearly basis, stochastic and MACD will continue to be overbought for two periods or more.

On a quarterly basis, LQ / UQ spread is maximal but could extend. A PEI is in progress with our moving averages. LQ is our first target.

On a monthly basis, Bollinger bands spread is a PEI.

Idea: next week, UM trend will be strongly up (and LM down)

Bet: a parabolic trend could develop with PM.

R = MM (3733);    S = 2003 low / LQ (2364), LY (1115)

 

Medium term: bearish parallel

On a weekly basis, a bearish parallel is in progress.

Idea: use bearish parallel rules

Bet: PEI for our MACD

 

R = PW (3250)               S= LQ (2364)

 

Short term: flat

On a daily basis, UD / LD spread is above a reference one.

Idea: wait economic news next Friday

Bet: UD is a strong resistance.

R = UD (3159);     S= LD (2772).

 

Conclusion: wait a PEI with our weekly MACD.