Hi friends,
I am sure that each and everyone of you are following the news from Cyprus… So I will not waste your time summarizing what it means and what happened.
The Finance minister suggested to quit but it wasn’t accepted yet. But the most interesting thing is that it seems that the parliament will vote AGAINST the Euro bank demands!!! They will not accept to tax the citizens. And it means that the ECB will hear for the first time, “NO” from a country that ask for help!
Such thing could have two affect. 1- Cyprus will make muscles but the ECB will break them and they will tax at least some of the deposits. In this case more countries could face issues as their citizens will jump on the banks to withdraw money… A big mess expected then. 2- ECB will understand that they can’t demand all they want, more countries will see at Cyprus as “hero” and will do what they did – say NO to ECB… A mess expected, just from other view!!! ECB can refuse many things then and the countries will have to leave the Eurzone!
So what mess do you prefer?
There is a wonderful video I found describing the situation in Europe… Find time to watch that
Until then, here is an interesting trade opportunity.
Natural Gas. Click on the picture to enlarge:
As you can see, the lovely natural resource is reaching a real top. It’s weekly resistance range. It is many trend lines meeting point. And it’s the level when daily RSI might top the 80. We know how critical it is. I think a drop down back to the bullish trend line is forming and I think as long as the gas is below 4.1-4.2 range we should look for sell opportunities.
I wish you happy trading days
Yours,
Vladimir Ribakov
http://www.vladimirforexsignals.com/
