MIB Index Futures Forecast November 20, 2012, Technical Analysis

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The MIB futures rose during the session on Monday as the 15,000 level has held as support again. This area is the “floor” in the recent action, and also the bottom of a massive descending triangle that seems to be forming.

Italy is not a place we look to invest in right now, so buying this market isn’t that interesting to us, even though we got a nice bounce on Monday. We think that eventually this support gives way, and should set up a nice run down to 14,000 or so.

 

MIB Index Futures Forecast November 20, 2012, Technical Analysis

MIB Index Futures Forecast November 20, 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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