The MIB initially fell during the course of the day on Monday, but as you can see found quite a bit of support at the 23,100 level. By doing so, we
The MIB initially fell during the course of the day on Monday, but as you can see found quite a bit of support at the 23,100 level. By doing so, we bounced enough to form a nice-looking hammer, which of course is very bullish sign. However, we do have a Just above so we recognize that the fight to go higher will be just that, a fight. Ultimately, we think the pullback should be buying opportunities as well, as the market should reach towards the 24,000 level given enough time as the markets certainly have a lot of upward pressure overall.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
