Dear traders, Greece’s bailout crisis deepens as the European Commission rips up its previous growth forecasts.
As the Greek talks drag on with little sign of agreement, and next Monday’s eurogroup meeting suddenly not expected to produce much progress, stock markets turned sharply into negative territory.
Now we have a SUPER STRONG SUPPORT down at 11000 with a SMA100 convergence in that price area.
The news asks us to stay very protective, and as for now I wont feel confortable buying below 11600.
Obviously I am broadly bullish on the long run, but for now let's stay aside and see what happens.