MIB Forecast August 5, 2014, Technical Analysis

<p>TheMIBas you can see did almost nothing during the session on Monday after initially gapping higher. We still find the market consolidating and grinding around the 20,400 region, so at this point in time is difficult to make any type of recommendation as we are hoping to see support, and perhaps a reason to start buying again, but at this point in time we don’t see much. We feel that the “floor” in this market is going to be the 20,000 handle. Ultimately, we are not sellers until we get below there.</p>

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<a href=”http://www.fxempire.com/wp-content/uploads/2014/08/mib.png”><img alt=”mib” src=”http://www.fxempire.com/wp-content/uploads/2014/08/mib.png” width=”572″ height=”353″ /></a></p>