Cable : PM (1.599)= resistance?

Catégorie [ £ / $ ]

Long term: bearish as long as monthly parallel pattern is in progress

On a yearly basis, Bollinger bands spread could expend further. Our stochastic and MACD are overbought. A bearish A type crossover could develop with our 7 / 23 years moving averages. The collapse could continue.

On a quarterly basis, Bollinger bands spread is not maximal and increase. Our stochastic and MACD are overbought. A bearish A type crossover is the status for our 7 / 23 quarters moving averages. A new low is expected.

On a monthly basis, a bearish parallel pattern is in progress.

Idea: a quarterly bearish ATDMF pattern is in progress.

R = PM (1.599);      S = LW (1.3836), -.

 

Medium term: recovery / rise

On a weekly basis, Bollinger band spread is not minimal but is expending. A soft bullish A type crossover is in progress with our 7 / 23 weeks moving averages. As long as our stochastic is not overbought, the technical recovery in progress could continue.

Idea: nothing to do

R = below PM (1.599), MM (1.7834);        S = MW (1.4595)

 

Short term: technical recovery

On a daily basis, MD is up. As long as our MACD is not overbought (bullish non-crossover in progress), the technical recovery in progress could continue.

Idea: bullish non-crossover for our MACD => higher.

R = below PM (1.599);           S= MD (1.5020)  

                                                                                                                                  

Conclusion: recovery for 2 weeks or more.