Long term: towards LM is likely
On a quarterly basis, a bullish no-crossover is in progress with our moving averages and our stochastic.
On a monthly basis, LM is our next target.
Idea: bullish as long as MM proves to be a support
Bet: UM / LM spread could be a reference one.
R= MM (95.83), UM (111.96); S= LM (79.31)
Medium term: weak for some weeks
On a weekly basis, Bollinger bands spread is increasing. A bearish no-crossover is the status for our stochastic. With a NEI on the monthly time frame, no bear trend could develop.
Idea: a type II could develop
Bet: lower for some weeks.
R = MW (101.14); S = LM (79.31).
Short term: bearish parallel pattern
On a daily basis, a type I is in progress.
Idea: use bearish parallel rules
R = MD (95.6); S= LD (86.3).
Conclusion: hold on short position.