Long term: weak

On a yearly basis, Bollinger bands spread will stay flat. Stochastic and MACD will be overbought at the end of the year. MY is our first target.

On a quarterly basis, a bearish no-crossover could be the status for each TAM tool. LQ is our first objective.

On a monthly basis, the UM / LM spread is shrinking and could be a reference one. A PEI could develop with our monthly moving averages.

Idea: LM is our first target if a PEI is the next status for our monthly moving averages.

Bet: lower as long as MM proves to be a resistance.

R= MM (1.3128);    S= MY / LM (1.2201), PY (1.0655)

Medium term: without main trend

On a weekly basis, UW / LW spread is a reference one.

Idea: weekly MACD is our leading indicator

Bet: lower as long as MW= resistance.

R = MW (1.3145);     S = LW (1.2720).

Short term: lower

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

Idea: towards LW if PD fails as a support

Bet: lower as long as MD act as a resistance.

R = MD (1.2995);        S = LW (1.2720).

Conclusion: weak as long as MW= resistance.