Long term: higher price is expected

On a yearly basis, a bullish non-crossover occurred between prices and PY (4 and 3 periods ago). This pattern is very bullish.

On a quarterly basis, UQ / LQ spread is maximal. Stochastic and MACD are oversold for 3 periods or more (a bullish non-crossover is in progress). The dynamic for our 7 quarters moving average is strong. 99.10 (historical high) is our first target.

On a monthly basis (March 09 contract) the trend for our 7 / 23 months moving averages is a bullish non-crossover. Rise as long as our MACD is not overbought.

Idea: on a monthly basis a bullish parallel pattern is in progress.

Medium term: bullish

On a weekly basis, Bollinger bands spread was not minimal when a close above UW occurred. The dynamic for each Bollinger Band is strong. The status for our MACD is a bullish non-crossover and a bullish A type crossover is in progress with our 7 / 23 weeks moving averages. Bullish as long as our MACD is not overbought.

Idea: higher

R = +;         S = MD (98.69).

Short term: bullish parallel pattern

On a daily basis a bullish parallel pattern is in progress.

Idea: use bullish parallel rules.

R = UD (99.194);            S = MD (98.69)

Conclusion: bullish as long as MD (98.69) = support.