Long term: below 74.95 is likely

On a quarterly basis, our MACD is overbought.

On a monthly basis, UM / LM spread could be a reference one. As long as our stochastic is not oversold the decline could continue or amplify.

Idea: below 74.95, LQ could be a target

Bet: UM / LM spread could increase.

R= MM (95.48);   S= 74.95, LQ (48.5)

Medium term: weak for some weeks

On a weekly basis, Bollinger bands spread is increasing. No type I or II could develop.

Idea: MACD as a benchmark

Bet: a collapse is not ruled out (IEP for UW in July).

R = PW (89.9);     S = 74.95.

Short term: bearish parallel pattern

On a daily basis, a bearish parallel pattern is in progress.

Idea: PD / MD will act as a resistance

Bet: lower.

R = PD / MD (83.8);    S= 74.95.

Conclusion: hold on short position.