The MIB fell significantly during the course of the week, breaking through the 22,000 region. However, there is a gap just below and as a result we think
The MIB fell significantly during the course of the week, breaking through the 22,000 region. However, there is a gap just below and as a result we think the buyers will come back into this marketplace as we have seen a couple of hammers form near the 21,500 area. With this, we are looking to buy this market, but will probably have to do sell off of short-term charts as the longer-term charts don’t offer the best look at the MIB currently. Ultimately, we feel the market does go higher.
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.