Long term basis: lower
On a yearly basis, stochastic and MACD could continue to be overbought for two periods or more. As long as MY (end of period) proves to be a resistance, the main trend is not bullish.
On a quarterly basis, LQ / UQ spread is shrinking. A PEI is in progress with our moving averages.
On a monthly basis; for M23, the trend is bearish. Our stochastic and MACD are oversold. PM could be the main resistance.
Idea: not bullish as long as our monthly M23 is not up
Bet: higher if 3601 fails as a resistance (end of period).
R= PM (3588), 3600.8 (March 2012 high), MQ (3647), MY (3709); S= MM (3393), LM (2782)
Medium term: without trend
On a weekly basis, TAM tools are neutral.
Idea: below MW, LW is our main objective
Bet: weak as long as our weekly stochastic is not oversold.
R= UW (3608); S= MW (3405), LW (3202).
Short term: higher without a bullish trend
On a daily basis, UD / LD spread is expending. No PEI could develop with TAM tools.
Idea: daily MACD is our leading indicator
Bet: nothing to do.
R= MQ (3647); S= MD (3433).
Conclusion: nothing to do for some weeks.