Long term: higher
On a quarterly basis, our moving averages are up. Stochastic and MACD are oversold. As long as no NEI will develop on a monthly basis, the bull trend in progress will continue.
On a monthly basis, Bollinger bands spread is increasing. TAM tools are up. As long as our MACD is not overbought, prices will continue to rise.
Idea: higher
Bet:
R= 139.19 (Historical High), UW (140.77) S= 135 (PW on DEC. 2011 contract)
Medium term: bullish parallel pattern
On a weekly basis, a bullish parallel pattern is in progress.
Idea: use bullish parallel rules
Bet:
R = PW (139.19); S = 135
Short term: flat
On a daily basis, TAM tools are neutral.
Idea: PD / UD is our first resistance and LD is a strong support
Bet: nothing to do.
R = UD (138.98) S = LD (135.44)
Conclusion: weak if 135 fail as a support.