MIB forecast for the week of August 17, 2015, Technical Analysis
The MIB initially tried to rally during the course of the week but found the 24,000 level to be far too resistive to continue going higher. Because of this, we turned back around and broke through the 23,000 level during the course of this past week. With fact, it appears the market essentially going to consolidate going forward, but we eventually should break out to fresh, new highs. A move above the 24,100 level would of course be a buying opportunity, but we also look at supportive candles below as buying opportunities as well. We have no interest whatsoever in selling.
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