Long term: above MM at the close?
On a yearly basis, TAM tools are without NEI / PEI.
On a quarterly basis, a bearish no-crossover is in progress for our moving averages. Our stochastic could be oversold. MQ is a strong resistance.
On a monthly basis, the UM / LM spread is above a reference one. Stochastic and MACD are oversold and M23 will continue to decline.
Idea: above MQ, PQ will be our main objective
Bet: with a close above MM, the rise in progress will continue for several months.
R= MM (1.3243), MQ (1.371), PQ (1.4374); S= MW (1.2996).
Medium term: trading range
On a weekly basis, a bullish no-crossover is in progress with our moving averages and with our MACD.
Idea: MACD is our leading indicator
Bet: not bearish as long as MW= support.
R = 1.3404 (current high); S = MW (1.2998).
Short term: recovery
On a daily basis, a bullish no-crossover could be the status for our stochastic and MACD. With this hypothesis, a bull trend will develop.
Idea: MACD is our leading indicator
Bet: towards LD if MD fails as a support.
R = UD (1.3372); S = MACD overbought, MD (1.3199), LD (1.3026).
Conclusion: higher for several months with a monthly close above MM.