Long term: towards MQ

On a yearly basis, Bollinger bands spread will stay flat. A bearish no-crossover is the status for our moving averages.

On a quarterly basis, our moving averages are down. Stochastic and MACD are oversold. A recovery towards MQ is not ruled out.

On a monthly basis, the UM / LM spread is minimal. Stochastic and MACD will continue to rise. With a NEI on the quarterly time frame, 84.18 (March 2012 high) is our first objective.

Idea: monthly stochastic is our leading indicator

Bet: above UM without a bullish trend.

R= UM (82.6), 84.18, MQ (88.62);    S= MM (79.24)

Medium term: higher but not yet bullish

On a weekly basis, Bollinger spread is a reference one. UM is a NEI.

Idea: weekly MACD is our leading indicator

Bet: a type I or II is likely.

R = UM (82.6);     S = MW (79.17).

Short term: higher

On a daily basis, a type I could develop before the end of the week (needs an oversold status for stochastic and MACD)

Idea: if a type I failed, MD will be our main target

Bet: MD is a very strong support.

R = UM (82.6);        S = MD (80.86).

Conclusion: towards UM or higher.