MIB Forecast August 10, 2015, Technical Analysis

Christopher Lewis
mibWEEK

The MIB as you can see fell on Friday, breaking the bottom of the shooting star that had formed on Thursday. However, there are plenty of supportive candles below that should continue to offer buying opportunities. We feel that this market eventually will break out to the upside, and go much higher than the 24,100 barrier. Any pullback at this point in time should find buyers, and as a result we just have no scenario in which we are wanting to sell this market at the moment. We believe that the MIB will simply follow the rest of the European Union higher.


 

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