Long term basis: technical recovery

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 maximal. Our stochastic could be oversold next period. A NEI will continue to be the status for our moving averages.

On a monthly basis, with a NEI as a status for our moving averages, a bullish trend is impossible.

Idea: cannot be bullish

Bet: towards PM if MM fails as a resistance (e.o.p.).

R = MM (3600), MY (3712);    S = LM (2904), PQ (2565)

Medium term: rise?

On a weekly basis, without a PEI, the rise in progress is only a technical recovery.

Idea: rise as long as our MACD is not overbought

Bet: towards LW if MW fails as a support.

R = MM (3600);               S= MW (3270), LW (2894).

Short term: decline?

On a daily basis, UD / LD spread is a reference one. No PEI is in progress.

Idea:  decline as long as our MACD is not oversold

Bet: towards MW.

R = MD (3494);     S= LD (3378), MW (3270).

Conclusion: end of the medium term recovery if MW fails as a support.