As we described in a previous article a short term downtrend has been formed in the Greek stock exchange. In the last four days the general index is consolidating near 1150 points and it is creating the right environment for a breakdown (see chart below). In combination with the line of the downtrend, we have a descending triangle and simultaneously the 10 days moving average has crossed the 25 days moving average (circled in the chart). These extra two technical criteria are augmented the possibility of the short term downward movement.
Breakdown in Greek stock exchange
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