Long term:  bearish on a long term basis

On a yearly basis, Bollinger bands are expending. A PEI is in progress with our moving averages and with our stochastic.

On a quarterly basis a bearish parallel pattern is in progress.

On a monthly basis, UM / LM spread is expending. A PEI is in progress with our moving averages and with our stochastic.

Idea: use quarterly bearish parallel rules

Bet: lower for some years.

R = MM (1.0156);     S = – – –

Medium term: bearish parallel pattern

 On a weekly basis, a bearish parallel pattern is in progress.

Idea: use bearish parallel rules

Bet:

R = MW (.9401)        S = – – –

 Short term: flat

 On a daily basis; with an oversold status for our MACD, a recovery could develop. Otherwise a bearish no-crossover will be in hand. With this hypothesis, a collapse is not ruled out.  

Idea: choppy.

Bet: lower

R = MD (.9104);  S = LD ( .8884)

Conclusion: lower for some years.