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MIB Forecast August 21, 2015, Technical Analysis

By:
Christopher Lewis
Updated: Aug 21, 2015, 05:36 UTC

The MIB as you can see gapped lower at the open on Thursday, but then turned back around to fill that gap. We then fell significantly to have a very

MIB Forecast August 21, 2015, Technical Analysis

The MIB as you can see gapped lower at the open on Thursday, but then turned back around to fill that gap. We then fell significantly to have a very negative candle. However, there is a significant amount of support just below do to the fact that there was a large gap previously, so we are going to pay attention to the 22,300 level. If we get support there, we would be interested in buying, but if we break down below there the market should then accelerate to the downside and go much lower.


 

MIB Forecast August 21, 2015, Technical Analysis
MIB Forecast August 21, 2015, Technical Analysis

About the Author

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.

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