The MIB gapped lower at the open on Monday, as global indices around the world sold off. We ended up going much lower, but bounce off of the 20,200 level.
The MIB gapped lower at the open on Monday, as global indices around the world sold off. We ended up going much lower, but bounce off of the 20,200 level. The real question now of course will be whether or not we can break down below the 20,000 handle. It seems very unlikely, just simply because we have sold off so drastically and the Americans started to try to pick the markets up later in the day. While we are not ready to serve buying yet, we are most certainly looking for a supportive candle in order to take advantage of what has been a bit of an overreaction.
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.
