European Chart Update

Some charts of European Indices.

• Dax is approaching 200 day moving average, again.
• Stoxx is at support levels.
• Spain has broken out of a huge formation, which will take the Index further down, but we are reaching some short term support levels.
• Italy has been in free fall mood and trading in “uncharted territory”, so very hard to predict any levels.

All in all, after having had the steepest rally last week, everything has fallen apart, yet again, and with increasing fear factor, and vol back up, there could be some short term opportunities going long again…..