Long term: bullish as long as MM = support

On a yearly basis, Bollinger band spread is not minimal but is increasing. Our 7 / 23 years moving averages are flat. A weak PEI is in progress with our stochastic and MACD. UY is our main target.

On a quarterly basis, Bollinger spread is a reference one. ATM tools are without trend. As long as PQ proves to be a resistance, a decline is not ruled out. Below MQ, LQ could be an objective.

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

Idea: focus on our quarterly stochastic

Bet: none.

R = PQ (1.4975);    S= MM (1.3616)

 

Medium term: lower but not bearish

On a weekly basis, UW / LW spread is minimal. A PEI is in progress with our MACD and a NEI is in progress with our weekly time frame. As long as MW proves to be a resistance, MM is our main target.

Idea: MM should be a strong support.

Bet: nothing to do.

R = MW (1.4331);     S = MM (1.3616)

 

 

Short term: decline

On a daily basis, UD / LD spread is expending but no PEI is in progress on TAM tools.

Idea: decline as long as our MACD is not oversold

Bet: MD will act as a resistance.

 

R = MD (1.4327);   S = MM (1.3616)

 

Conclusion: avoid this market.