There appears to be some significant Elliott Wave technical chart pattern developments unfolding in the European markets that if confirmed will bring irrecoverable change to complexion of the Western European markets for the foreseeable future.
These developing bearish Elliott Wave patterns are also likely to have broad reaching implications in terms of their impact on daily life throughout the EuroZone. Without going into the social commentary specifics, suffice to say however, they are likely now to take a turn for the worse. Having said that, social commentary is not our business. We are in the business of identifying trend development for our members, reviewing and analyze the markets and distributing videos to help keep them safe.
And keeping our members safe is the top priority at this time and here is why we think why. Firstly, the are a couple of long term trend indicators that we find highly reliable that are telling us now to be cautious, they are specifically the ‘Weekly Aroon Oscillator‘ and the ’50 Day & 200 Day Moving Averages‘.Both of the indicators have triggered highly reliable ‘bearish cross-overs’ that have previously lead to dramatic declines of a longer term nature and combined it adds to their veracity. No indicator is fail-safe, however these are pretty good.
In the short term, there are a cluster of bearish chart patterns developing in the major European markets such as ‘bearish head and shoulders topping formations and descending triangle tops’ that also suggest the potential for a ‘crash-like’ move down in the order of 15% plus in the coming months if the resolve as we think they might.
Other than a host of technical indicators and bearish technical chart patterns, the most obvious indication of a major move lower is a near complete bearish Elliott Wave count, that if correct will likely usher in a larger crash move in the near term
Rather than go through the individual detail of each major European market market I have decided to attach to this article a copy the European Edition of The Monthly Global Forecast from the 24th of June that details the prevailing technical evidence indicating much lower prices directly ahead.
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