Long term basis: not yet bullish

On a yearly basis, stochastic and MACD could continue to be overbought. 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 shrinking. Our stochastic and MACD are oversold. Our moving averages trend is bearish.

On a monthly basis, a type B is expected as the status for our moving averages.

Idea: monthly stochastic is our leading indicator

Bet: UM is a strong resistance.

R= UM (3812), 4169 (Feb 2011 high);    S= MM (3351), LM (2891)

Medium term: choppy

On a weekly basis, our stochastic and MACD are overbought.

Idea: towards LW if MW fails as a support

Bet: UW is a strong resistance.

R= UW (3840);               S= MW (3605), LW (3371).

Short term: choppy

On a daily basis, Bollinger bands spread is wide.

Idea: use our stochastic as a leading indicator

Bet: inside up / down bands.

R= UD (3751);     S= MD (3680), LD (3608)

Conclusion: too early to be short (medium term basis).