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.

On a monthly basis, M23 is in a down trend. Our stochastic and MACD are oversold.

Idea: not bullish as long as our monthly M23 is not up

Bet: nothing to do.

R= MM (3477.3 e.o.p.), 3600.8 (March 2012 high), MQ (3756);    S= LM (2725.6), 2400, – – -.

Medium term: rise

On a weekly basis, Bollinger bands spread is above a reference one. A NEI is in progress on the upper time frame.

Idea: rise as long as our stochastic is not overbought.

Bet: nothing to do.

R= MM (3477.3 e.o.p);               S= MW (3191).

Short term: MACD as a leading indicator

On a daily basis, our MACD is overbought.

Idea: daily MACD is our leading indicator

Bet: below MD, LD is our next target.

R= UD (3557);     S= MD (3406), LD (3255).

Cobclusion: nothing to do.