Long term basis: towards LQ or lower
On a yearly basis, TAM tools are neutral.
On a quarterly basis, LQ / UQ spread is maximal. A PEI is in progress with our moving averages. LQ is our first target.
On a monthly basis, Bollinger bands spread is a PEI. Next period; with an amplification of UM trend, a bearish pattern will be in progress.
Idea: weak as long as quarterly M 23 is not bullish
Bet: below LQ if – 8 (3936) proves to be a resistance at the current close.
R = MM (3738); S = 2003 low / LQ (2401), LQ (2377), LY (1121)
Medium term: bearish parallel
On a weekly basis, a type II is in progress.
Idea: use bearish parallel rules
Bet: focus on UW trend for 9….
R = PW (3528) S= LQ (2377)
Short term: flat
On a daily basis, TAM tools are neutral.
Idea: nothing to do
Bet: lower with a PEI on the weekly stochastic.
R = UD (3284); S= LD (2970).
Conclusion: wait early October.