The MIB rose during the course of the day on Wednesday, looking as if we are trying to bounce off of the 16,000 level with some ferocity. However, we see
The MIB rose during the course of the day on Wednesday, looking as if we are trying to bounce off of the 16,000 level with some ferocity. However, we see more than enough resistance above to start selling yet again. Given enough time, we feel that the market will form an exhaustive candle that we can sell, and that’s exactly what we plan on doing. We have no interest whatsoever in buying the MIB at this point in time. Ultimately, this is a market that will continue to look soft as long as the rest of Europe does.
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.
