Long term basis: weak

On a yearly basis, with our 7 / 23 years moving averages, a bearish B type crossover will develop before 2014.  As long as MY (end of period) proves to be a support, the recovery could continue. Next supports are 2003 low and LY.

On a quarterly basis, LQ / UQ spread is maximal. MQ is our first resistance. Above MQ, UQ is our next target. A bullish no-crossover could develop with our stochastic.

On a monthly basis, Bollinger bands spread is a reference one. Last close was below MM and MQ is a resistance. A bearish A type crossover could develop with our moving averages.

Idea: towards LM as long as MM proves to be a resistance

Bet: trading range on a monthly basis.

 

R = MM (1204), UM (1389);    S = LM (1020)

 

Medium term: not yet bearish

On a weekly basis, TAM tools could turn to a neutral status. But as long as our MACD is not oversold, prices will continue to decline.

Idea: nothing to do

Bet: MW is our first resistance and LM is a strong support.

 

R = MW (1239);    S= LM (1020)

 

Short term: flat

On a daily basis, UD / LD spread is above a reference one. TAM tools  are neutral.

Idea: UD = strong resistance and LD is our main support.

Bet: nothing to do.

 

R = MD (1176), UD (1223);                   S= LD (1129)

 

Conclusion:  nothing to do.