Yearly trend: higher

 

On a yearly basis, the pattern in progress looks like a parallel pattern. A PEI is in progress with our MACD. Our 7 / 23 years moving averages are always on a bull trend.

Idea:  UY / LY spread is increasing

Bet: UQ as a first target.

R= UQ (119.75), PY (144.39);   S= MM (85.47)

 

Long term: rise

On a quarterly basis, the spread UQ / LQ is maximal but expending. TAM tools are up without PEI.

On a monthly basis, a PEI is in progress with our moving averages.

Idea: rise as long as our MACD is not overbought

Bet: lower below PM.

R= UQ (119.75);   S= PM (94.63), MM (85.57)

 

Medium term: decline or bearish

On a weekly basis, UW / LW spread is maximal.

Idea: with a B type bearish crossover, LW is a strong support.

Bet: focus on 94.63 (May low).

R = UD (102.45);     S = LD (96.87), 94.63, LW (84.87)

 

Short term: trading range?

On a daily basis; TAM tools are neutral.

Idea: trading range for 2 months?

Bet: UD could be a strong resistance.

R = UD (102.45);     S = LD (96.87)

 

Conclusion: not bullish.