The MIB initially gapped higher at the open on Tuesday, but then pullback in order to show that we still have a bit of volatility and more importantly,
The MIB initially gapped higher at the open on Tuesday, but then pullback in order to show that we still have a bit of volatility and more importantly, resistance above. We think that pullbacks give us opportunities to buy this market cheaply though, and therefore we are looking for supportive candles in order to go long. Once we get above the 23,000 level however, we feel the market will then be able to go much higher and it becomes more or less a “buy-and-hold” type of market. With no interest in selling the MIB.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
