The MIB initially fell during the course of the week as all European indices did, but found enough support at the 20,200 level to turn things back around
The MIB initially fell during the course of the week as all European indices did, but found enough support at the 20,200 level to turn things back around and form a massively supportive candle. We now believe that the MIB will follow the rest of Europe again, which looks ready to rise. We are buyers on a break above the top of the range, as is market should then reach towards the 24,000 level given enough time. We have noticed whatsoever in selling and believe that the 20,000 level should be a bit of a “floor” now.
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.
