FTSE MIB Futures Forecast October 23, 2012, Technical Analysis

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The MIB futures market fell during the session on Monday as did most European indices and index futures. The 16,000 level is now above, and this looks like a market that willing to flow back down to the 15,000 level. There should the some serious support at that level, but the truth is that we will more than likely drift lower until we hit it. Because of this, we are bearish of malign and the stock on its index, and will continue to be so until 15,000 is retested for support. With all of the issues going on in the periphery of Europe, Italy included, it’s hard to believe that this market will become overly bullish anytime soon.

 

FTSE MIB Futures Forecast October 23, 2012, Technical Analysis

FTSE MIB Futures Forecast October 23, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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