Long term basis: not yet bullish
On a yearly basis, stochastic and MACD could continue to be overbought. The rise in progress is only a technical recovery.
On a quarterly basis, LQ / UQ spread is shrinking. Our stochastic and MACD are oversold. Our moving averages are neutral.
On a monthly basis, a type B is the status for our moving averages.
Idea: monthly stochastic is our leading indicator
Bet: UM is a strong resistance (end of period).
R= UM (3661), 4169 (Feb 2011 high); S= MM (3373)
Medium term: weak
On a weekly basis, our stochastic and MACD are overbought.
Idea: MACD is our leading indicator
Bet: towards LW if PW fails as a support.
R= UW (3862); S= PW (3646), LW (3519).
Short term: lower
On a daily basis, UD / LD spread is a reference one. A PEI is the status for our MACD.
Idea: use our MACD as a leading indicator
Bet: too early for a sell-off
R= MW (3792); S= PW (3646)
Conclusion: As long as PD proves to be a resistance, PW could fail as a support.
Warning: see (one more time) 03/04 article and firstname.lastname@example.org for explanations