Thursday, 3 May 2012

Greek Stocks continue to slide lower ahead of elections

 With low volume and clear absence of buyers, the market is sliding every day lower. FTASE 20 is moving towards our lower yellow channel line. If the upper resistance is broken then something can be expected in the future. Until then I remain neutral and would only make intraday trades biased to the downside, specially when the market opens higher.

The General Index broke the green triangle and as long as it remains below 700, it is biased lower. Breaking the upper green line would be an initial bullish sign. Maybe after the elections.

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