Monthly chart: we still wait for downside correction (or even downside reversal) towards middle Bollinger band (2118.3)
Weekly chart: ADX/RSI show downside correction. Support level is at 2270.9 (middle Bollinger band). Upper Bollinger band is edging towards 2427.6 but general setup supports rollback.
Daily chart: ADX shows growing trend, so bears are likely to try to break support level at 2340.9 (lower Bollinger band). If they manage to do it, we will see drop to 2270.9.
Core scenario - drop to 2270.9 (in case of 2340.9 downside breakout)
Alternative scenario - rebound from 2340.9 to 2427.6
1. Consider selling towards 2270.9 after the price breaks 2340.9
2. Consider buying from 2340.9 (if the level won't be broken).
Monthly chart: decline towards middle Bollinger band continues (48.79). ADX is not strong enough, so price rotation in this region is likely to continue.
Weekly chart: here we are observing decline towards lower Bollinger band (46.14). ADX shows active trend, so support level is likely to face pressure.
Daily chart: the price is inside lower Bollinger envelope range (48.79-53.33). It's recommended to open short positions.
Expectations: drop to 48.79, however at first there may occur rollback to 53.33.
Trading signals: consider selling from 53.33 to 48.79
Monthly chart: ADX is passive, so the main expectation is flat continuation around middle Bollinger band (1204.58)
Weekly chart: here bulls are trying to offset last week inside bar, they have an opportunity to push the price up to 1290.37 (upper Bollinger band). In this region, however, they are likely to face a strong resistance level considering horizontal Bollinger bands.
Daily chart: as expected the price retraced on the previous week within bearish Over&Under pattern, so bears may enter the market right from the current levels. However, bulls still can reach new local highs (see blue arrow).
Core scenario - decline from current levels to 1194.56 and lower
Alternative scenario - upside breakout of 1268.00.
1. Consider selling from current levels to 1194.56