The daily sell signal was generated on Monday, but the weekly uptrend is still intact. The volume increased over last few sessions, which is not a good sign. Both oscillators have made lower low, therefore divergences confirmed the fall.
We might also want to draw Head-and-Shoulders formation on 1-hour chart with target price ca.29000 (90% of the move has been already reached):
The fell was very dynamic and unfortunately, some of our positions were surely liquidated. However, as the daily uptrend has been broken we should not attempt to enter the market immediately.
Current situation is quite dangerous and catching falling knives usually is painful.
The European Commission will take a decision on the opening of the excessive deficit procedure against the Poland (here).
Sources:
[http://biznes.onet.pl/0,1994597,wiadomosci.html (via Google Language Tools)]
[http://www.chartpatterns.com/headandshoulders.htm]
[http://www.investopedia.com/terms/f/fallingknife.asp]
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