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 is 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 (3647);    S= LM (2761)

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 (3578.5);               S= MW / LD (3343), LW (3046).

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: towards LD or lower.

R= MD (3433);     S= LD (3342).

Conclusion: towards LW if our daily stochastic is not oversold on the LD level.