The MIB initially fell during the course of the week, testing the 18,000 level for support. We found it there, and then turn right back around to reach
The MIB initially fell during the course of the week, testing the 18,000 level for support. We found it there, and then turn right back around to reach towards the 19,000 handle. If we can break above the 19,000 level, the market should continue to go much higher. It looks as if we are going to do that, but it’s not until we clear the 19,000 level that we feel a longer-term signal is possible to take in this market. We have no interest in selling the MIB at the moment.
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.
