EWP: I love going to Spain for holidays but not its equities
Spain, a beautiful country with beautiful houses and people but not it's equities.
EWP, a Spain index ETF has been tracing out a long term triangle since 2009.
The triangle has appeared to have reached or very near to its apex.
This is where the country's equities will start falling apart and its consistent with my other analysis of EUFN (Refer to related idea).
Prices have or should start breaking down in dramatic fashion.
A near term retest of its Primary Wave E could be likely.
Key Resistance remains at its Primary Wave E
Critical Resistance remains at its Primary Wave C
(Daily Timeframe)
EWP, a Spain index ETF has been tracing out a long term triangle since 2009.
The triangle has appeared to have reached or very near to its apex.
This is where the country's equities will start falling apart and its consistent with my other analysis of EUFN (Refer to related idea).
Prices have or should start breaking down in dramatic fashion.
A near term retest of its Primary Wave E could be likely.
Key Resistance remains at its Primary Wave E
Critical Resistance remains at its Primary Wave C
(Daily Timeframe)
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