Long term: flat
On a yearly basis, no PEI or NEI is in progress.
On a quarterly basis, the bullish parallel is over. A
bearish no-crossover is the status for our stochastic and MACD.
On a monthly basis, UM / LM spread is above a
reference one. TAM tools are without PEI.
Idea: Lower as long as our monthly stochastic is not
oversold
Bet: this year, a monthly bearish pattern could
develop.
R= MM (.8589);
.8068, MY (.7411)
Medium term: weak
On a weekly basis, a PEI is the status for our moving
averages.
Idea: Lower as long as our weekly MACD is not oversold
Bet: nothing to do.
R = MW (.8327);
S = .8068
Short term: no bearish pattern
On a daily basis, prices will continue to decline.
Idea: lower as long as MD proves to be a resistance
Bet: towards LD.
R = PD (.82), MD (.8247); S = LD (.8137)
Conclusion: lower on a medium term basis.