EWI Italy Weekly Chart

The green lines show a long and strong profile so price wants to see another higher high. The money flow was the only indicator that was positively diverged to cause the Fall bounce, this hints that price may want to coem back down to finish up business at lower numbers. The 20 week MA under the 50 MA is bearish and the downward sloping 200 MA is very bearish. Watch to see if price comes up and uses the 50 MA as a ceiling. A break of 11.8-12.0 means Italy is in trouble.

Watch the 20 MA and 50 MA serve as lower and upper brackets for price moving forward and the move out one side or the other will tell you a lot. Projection is up where the 50 MA serves as resistance, and negative divergence forms across all indicators, so spank down from 14-ish, then sideways thru 12.5-14.0, and reassess the chart in the weeks ahead. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.