The MIB went back and forth during the course of the session on Friday, ultimately forming a bit of a hammer. We are pressing resistance above, and as a
The MIB went back and forth during the course of the session on Friday, ultimately forming a bit of a hammer. We are pressing resistance above, and as a result it more than likely will continue to go higher, but it is going to be a bit of a fight. Pullbacks will continue to be buying opportunities, and sooner or later will break above the 19,200 level and be free to go to the 20,000 level next. We have no interest in selling at the moment, it appears that the buyers are far too strong.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
