Italy Has A Problem

Italy Has A Problem

Italy 40 CFD FOREXCOM:ITA40


Last week saw the break of a bear flag . We are now resting on downtrend support. The chart looks heavy at this point.

Italian banks have major exposure to Turkey. Also, Italy             threatens to drag the EU under. The Italians are not as docile as the Greeks – they do not care for whatever rules Brussels attempts to impose on them.

Thus, my next target for capital flight is Italy             . My first target is the 2016 lows. Should a bounce materialize, I will be confident in shorting it. For now, I’m short from within the flag.