ridethepig | Euro Autos Breakout Alert
One for the watchlists, Euro Autos showing signs of strength and look ready to breakout in the log chart. However, I am wary of any false breaks here, we are sitting at resistance, this may run out of steam so any signs of a turn I will not hesitate to sell into and would recommend all to do the same.
For the flows; a weekly break above 512.xx will cascade the ladder and ensure an impulsive rally towards 640.
The risks to this thesis with Euro Retail also on the verge of breaking out and the punchbowl refilled via Co-ordinated Central Banking this has potential to continue to flow.
Suspect we can settle in the range with a slight bias that it will be the lower end that breaks.
For the flows; a weekly break above 512.xx will cascade the ladder and ensure an impulsive rally towards 640.
The risks to this thesis with Euro Retail also on the verge of breaking out and the punchbowl refilled via Co-ordinated Central Banking this has potential to continue to flow.
Suspect we can settle in the range with a slight bias that it will be the lower end that breaks.
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