Long term: flat

On a yearly basis, no PEI or NEI is in progress.

On a quarterly basis, the bullish parallel is over. A
bearish no-crossover is the status for our stochastic and MACD.

On a monthly basis, UM / LM spread is above a
reference one. TAM tools are without PEI.

Idea: Lower as long as our monthly stochastic is not
oversold

Bet: this year, a monthly bearish pattern could
develop.

R= MM (.8589);  
.8068, MY (.7411)

 

Medium term: weak

On a weekly basis, a PEI is the status for our moving
averages.

Idea: Lower as long as our weekly MACD is not oversold

Bet: nothing to do.

R = MW (.8327);    
S = .8068

 

Short term: no bearish pattern

On a daily basis, prices will continue to decline.

Idea: lower as long as MD proves to be a resistance

Bet: towards LD.

R = PD (.82), MD (.8247);   S = LD (.8137)

 

Conclusion: lower on a medium term basis.