SPAIN: Confluence short, or the art of patience
Second rejection at the same area, after gun the shorts first - including mine- at 10,500.
Another try at 0.764 from 2010 highs to June 2012 lows, upper BB boundary again, and the same diverging momentum, produced a BE weekly candle, just like the one we saw at the end of January.
If will continue down or not, its up to the Blood Moon I guess. Strong support at 10,100-120 area and 9,800 as well. The trend is clearly up and the bottom IH&S has a roughly target above 11,500.
Remember that Spain is borrowing from the markets currently with a lower rate than USA. The fact that it's unemployment level is close to 30%, with the 24-34 ages touching 60%, I guess make the economy stable. Go figure the bankster world we live in...
Last but not least, the need to practice patience is clearly shown at the chart.
Another try at 0.764 from 2010 highs to June 2012 lows, upper BB boundary again, and the same diverging momentum, produced a BE weekly candle, just like the one we saw at the end of January.
If will continue down or not, its up to the Blood Moon I guess. Strong support at 10,100-120 area and 9,800 as well. The trend is clearly up and the bottom IH&S has a roughly target above 11,500.
Remember that Spain is borrowing from the markets currently with a lower rate than USA. The fact that it's unemployment level is close to 30%, with the 24-34 ages touching 60%, I guess make the economy stable. Go figure the bankster world we live in...
Last but not least, the need to practice patience is clearly shown at the chart.
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