Italy MIB 40
The Italian market has been in focus due to the important elections, that all are watching for a shift to the right wing from a Eurozone trends perspective. The chart shows a triangle before the final dip and a rebound. Simply put that is wave 4 and 5 down and now wave B up is forming. European stocks finally get a relief rally as the DAX also closed above the 20dma yesterday. It should end somewhere near the gap left behind in wave 3 down as shown.