Long term: new bear trend
On a yearly basis, UY is flat. The trend for our 7 / 23 years moving averages is not bearish. Our stochastic could be overbought at the end of this period with a bearish divergence. Below MY, the main trend will be bearish.
On a quarterly basis, for our stochastic the status is a bearish divergence (wait the end of Q3 for a validation). With this hypothesis, MQ is our first support. LQ is flat. On a monthly basis, our 7 / 23 moving averages are not bearish. A bearish B type crossover is not ruled out before this autumn. The pattern with our Bollinger bands was like a bullish parallel one but a close occurred below MM. A bearish non-crossover is the status for our stochastic (and a bearish divergence is in progress). LM is our next objective.
Idea: a bearish divergence on a yearly time frame could develop (never seen on a quarterly basis).
R = MW (119.58); S = MQ (112.25), LM (110.38), MY (109.39), LQ (101.93)
Medium term: bearish without ATDMF pattern
On a weekly basis, the status for our 7 / 23 weeks moving averages is a bearish A type crossover. The decline in progress could continue or amplify as long as our MW proves to be a resistance (end of a week).
Idea: recovery above MW
R = MW (119.58); S = LW (113.22), LM (110.38), –
Short term: decline with a close below MD
On a daily basis, UD / LD spread is not minimal. Our stochastic and MACD are overbought. With a close below MD, LW is our next objective.
Idea: focus on Thursday close.
R = UD (119.06); S = MD (116.53), LD (113.99)
Conclusion: with a bearish divergence as a status for our quarterly stochastic (end of Q3), a Major financial crisis will develop.