Dec. 19 - Barclays Capital technical strategist Phil Roberts says further widening of the Italy-Germany yield spread now looks inevitable.
Uncertain prospects for the president that time to doing little to come investor nerves or sapped him on the safe havens for his thoughts on now what the charts tell us. As we had times a year and I'm joined by a ball cap chief European technical strategist at Phil Roberts. I still we don't some dvds it's a lead German spread his bounce firmly. Off the 100 day average. Does a further rise out. Inevitable. Unfortunately does. The as some maintain your if you was to be judges six XX would have had since not long term trend. And the fact that the hundred day moving average. Stoltz and there the spread narrowing. Fading he needs tracks. He's a clear indication. That the -- evening itself was just not enough narrow was starting to bush about. Trend line resistance. And was starting to move back towards the winds that we've seen in the years so it. 888 doesn't bode well for all night she we're on the same road to ruin. Does the -- German spread as it was on for the last two years coming through -- that move. You'd you'd you have periods web. -- there would -- corrections. Ultimately. The trend continues. -- all right. Let's leave that we have to have facts despite the juices in the in the Euro -- Switzerland whose son defended successfully the floor and Euro Swiss. Does the 120 level of said to be tested again. I think it does. It looks Asif the market that's had a change in sentiment last week. We sold reversal by -- in sterling -- reversal -- being -- yen. And you'll -- ways that program amounts. Double talk. So full all the world. There's been a change in sentiment. Bold new look and all last Thursday. Was as heavy use stating it's been since the intervention back in September up. So Lisa Olson a shape you know. To the market he's ready to test the end X and these -- resolved. All right let's finish on the nordic -- that ozone focuses potential havens. You're saying except I don't know he's stocky how is that playing out now. But looks like very. -- classic. Head and shoulders tall. Last week we broke the next line. Gates has signed the -- complete the up trend of 2011. Is over. And the stock gays like racism really appreciate it's much further in the coming weeks and so we've broken the next line. Consolidation below 170. Keep yourself focused on the downside. Were looking at then moved to wolves won twelve early connection here. All right Phil many thanks Phil Robertson -- cap that's it for months from now. I'm actual growth which is Royces.