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 but shrinking. TAM tools will stay weak for two periods or more.

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

Idea: cannot be bullish

Bet: MM is a strong resistance.

R = MM (3585);    S = LM (2874)

Medium term: trading range

On a weekly basis, no PEI or NEI could develop with TAM tools.

Idea: weak as long as our stochastic is not oversold

Bet: towards LW as long as MW (e.o.p) acts as a resistance.

R = MW (3311), UW (3610);               S= LW (3011).

Short term: weak

On a daily basis, a weak bearish no-crossover is the status of our moving averages.

Idea:  MD will act as a resistance

Bet: bearish pre-parallel

R = MD (3494);     S= LD (3081).

Position: lower if MD (e.o.p) acts as a resistance.