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Welcome to VitalFinance!

Technical Analysis

Publisher is the well known blogger and technical analyst "the smart goldfish" Ioannis Deligiannis.
We continue with the updated GI analysis published by Greenbull.

VITALFRONT

In October and the first ten days of November, Greek GI moved in a tight range between 610- 650 units. The formation can well be considered as a wait and see pattern of the existing downward movement (flag pattern) and in this case, downward movement will keep going. This possibility will be confirmed by breaking the 610 level. On the other hand, if the 650 level is broken upside then the formation could be considered as double or even triple bottom which is an upward pattern and will move to the 690 target. The specific technical view is in line with our Elliot wave analysis that we follow for quite some time, which is the GI to conclude its upward correction at 670-705 units.