Long term: towards UQ?

On a quarterly basis, a bullish no-crossover is in progress with our moving averages and our stochastic. On a monthly basis, our stochastic and MACD are not yet oversold.

Idea: oversold status this month for our stochastic and MACD

Bet: very bullish with a bullish no-crossover for our monthly moving averages (before the end of 2011)

R= UM (108.67), UQ (120.23);   S= MM (88.34), LM (68.02)

Medium term: higher

On a weekly basis, UW / LW spread is above a reference level. Towards UW if M23 trend is up.

Idea: UW could be a target

Bet: rise as long as our stochastic is not overbought.

R = UW (100.4);     S = MW (88.95)

Short term: higher

On a daily basis, a PEI is in progress with our MACD.

Idea: rise as long as our MACD is not overbought

Bet: towards UW.

R = UW (100.4);    S= PD (89.77)

Conclusion: higher but not yet bullish.