Long term basis: lower
On a yearly basis, stochastic and MACD could continue to be overbought for two periods or more. As long as MY (end of period) proves to be a resistance, the main trend is not bullish.
On a quarterly basis, LQ / UQ spread is shrinking. A PEI is in progress with our moving averages. Stochastic and MACD are oversold.
On a monthly basis; for M23, the trend is bearish. Our stochastic and MACD are oversold. PM could be the main resistance.
Idea: not bullish as long as our monthly M23 is not up
Bet: higher if 3601 fails as a resistance (end of period).
R= 3600.8 (March 2012 high), MQ (3648); S= MM (3393), LM (2782)
Medium term: below MW?
On a weekly basis, a bearish no-crossover is the status for our stochastic and MACD.
Idea: below MW, LW is our main objective
Bet: lower as long as our weekly stochastic is not oversold.
R= PW (3573.9); S= MW (3363), LW (3090).
Short term: trading range
On a daily basis, UD / LD spread is a reference one. No PEI could develop with TAM tools.
Idea: stochastic is our leading indicator
Bet: nothing to do.
R= UD (3529); S= MD (3442), LD (3355).
Conclusion: nothing to do for some weeks.