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 target.

On a monthly basis, Bollinger bands spread is minimal. With a NEI 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 (4331); S = MM (3791), May 2010 low (3287), 2003 low (2401)

Medium term: without trend

On a weekly basis, a bullish no-crossover is in progress with our moving averages. The status for our stochastic and MACD could be overbought soon.

Idea: towards LW with an overbought status for our stochastic and towards UW with M7 up next week.

Bet: forget this market (same song since one year).

R = UW (4164) S= MW (3999), LW (3834)

Short term: without trend

On a daily basis, UD / LD spread will stay flat. A bearish A type crossover could develop with our moving averages. A bearish no-crossover is in progress with our stochastic and MACD.

Idea: LD is our first support

Bet: bearish propagation on upper time units.

R = UD (4140); S= LD (3912)

Conclusion: not bullish as long as MQ (4331) proves to be a resistance.