The MIB broke higher during the course of the session on Monday, clearing the top of the hammer that had formed on Friday. Because of this, we believe
The MIB broke higher during the course of the session on Monday, clearing the top of the hammer that had formed on Friday. Because of this, we believe that this market continues to grind higher, probably aiming for the next large round number in the form of 24,000 at this point in time. We are buyers of short-term pullbacks, and do believe that ultimately this market should break out to the upside and continue to go much higher given enough time. Longer-term, we anticipate that the 25,000 level will almost certainly be tested again.
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.
