The MIB rose during the course of the day on Wednesday, looking as if we are trying to bounce off of the 16,000 level with some ferocity. However, we see
The MIB rose during the course of the day on Wednesday, looking as if we are trying to bounce off of the 16,000 level with some ferocity. However, we see more than enough resistance above to start selling yet again. Given enough time, we feel that the market will form an exhaustive candle that we can sell, and that’s exactly what we plan on doing. We have no interest whatsoever in buying the MIB at this point in time. Ultimately, this is a market that will continue to look soft as long as the rest of Europe does.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
