The Milanese exchange gapped lower at the open on Wednesday, slicing into the 23,000 region. However, we think there is enough support below to keep this
The Milanese exchange gapped lower at the open on Wednesday, slicing into the 23,000 region. However, we think there is enough support below to keep this market somewhat afloat. We are waiting to see a supportive candle, because we have so many gaps below. We believe that sooner or later we get a candle that tells us it’s time to pick up value. With this, we are on the sidelines but recognize that sooner or later we will probably be going long yet again as the market looks like one that is trying to build up momentum during summertime trading.
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.
