Long term: towards LM if PM fails as a support

On a yearly basis, Bollinger band spread is not minimal but is increasing. Our 7 / 23 years moving averages are flat. Stochastic and MACD are neutral. UY is a far away resistance.

On a quarterly basis, Bollinger spread is a reference one. A bearish no-crossover is in progress with our MACD. With an overbought status for our stochastic, LQ will be our main target.

 On a monthly basis, the UM / LM spread is above a reference one. TAM tools are on the down side. Below PM, LM is our next objective.

Idea: focus on our quarterly stochastic

Bet: towards LM if PM fails as a support.

R = UM (1.4886);    S= PM (1.3174), LM (1.232)

 

Medium term: lower but not bearish

On a weekly basis, UW / LW spread is expending. A PEI is in progress with our MACD and no PEI is in progress with our monthly time frame. As long as MW proves to be a resistance, PM is our main target.

Idea: lower for some periods

Bet: PM will fail as a support.

R = MW (1.4227);     S = PM (1.3174)

 

 Short term: recovery above PD

On a daily basis, a bullish no-crossover is in progress with our stochastic.

Idea: Above PD, MD is our next objective

Bet: as long as MD = resistance, a rise will be only a technical recovery.

 

R = PD (1.3827), MD (1.4017);   S = PM (1.3174)

 

Conclusion: below PM as long as MD = resistance.