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

On a yearly basis, Bollinger bands spread is stable. Our stochastic and MACD are overbought. Our 7 / 23 years moving averages are neutral. Above MY (1.6724) more recovery is expected.

On a quarterly basis, Bollinger bands spread is not maximal and increase. Our stochastic and MACD are overbought. With a bearish B type crossover as a status for our 7 / 23 quarters moving averages (wait the end of June 09), a rise towards MQ (1.8359) is expected (see CAC 40 fall between 2000and 2003 on a quarterly basis). MY (1.6724) is a strong resistance. Otherwise, with a bearish A type crossover, a new low is expected.

On a monthly basis, a bearish parallel pattern is in progress but PM failed as a resistance (M7 is up and position is now only 50 % from the initial one).

Idea: for a quarterly bearish ATDMF pattern, have a look on UQ trend.

R = MM (1.7639);      S = MW (1.4837).

 

Medium term: bullish without ATDMF pattern (until next week)

On a weekly basis, Bollinger band spread is expending and could continue to increase for some periods. A bullish A type crossover is in progress with our 7 / 23 weeks moving averages. As long as our MACD is not overbought, the rise in progress could continue. Next week, with a bullish non-crossover as a status for our stochastic, UD (1.6688) will be our first objective.

Idea: intra week trading (with long signals)

R = UD (1.6688), MM (1.7639);        S = MW (1.4837)

 

Short term: bullish parallel pattern

On a daily basis, a bullish parallel pattern is in progress;

Idea: use bullish parallel rules.

R = PD (1.6537), UD (1.6688);           S= MD (1.5915)  

                                                                                                                                  

Conclusion: towards MM (1.7639) if the rise continues for two weeks.