ATG Greece Weekly Chart

The long red downward-sloping channel highlights the turmoil in Greece over the last couple years.  Late last year, the green lines show the falling wedge, oversold conditions and positive divergence that bounced price nicely.  800 serves as a resistance ceiling, however, and spanked price lower again as the news deteriorated in Greece this year.  The green lines now show positive divergence and oversold conditions again, resulting in a nice bounce of 14% last week. Despite all the turmoil, this is a chart that very much wants to see the recent price lows remain as a base moving forward. Of course if things disintegrate in Greece, all bets are off.  The projection is for price to stumble along sideways thru the pink channel moving forward.  If the lower rail at 450-ish gives way, Katy bar the door. The 700-ish area is a strong S/R area as well. Technical-wise, the chart is agreeable to using the lower pink line as a base moving forward. This information is for edcuational and entertainment purposes only.  Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.