The MIB as you can see broke higher during the course of the session on Monday, as we continue to test the 24,000 level. This is an area that has been
The MIB as you can see broke higher during the course of the session on Monday, as we continue to test the 24,000 level. This is an area that has been massively resistive recently, so if we can break above the most recent high at the 24,100 level, we would be buyers. We also think the pullbacks could be short-term buying opportunities but we also recognize that the market will probably have to try to build up enough momentum to continue going higher. Ultimately, we think that happens but we realize that you will have to be very patient.
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.
