The MIB initially fell during the week but found enough support just below the 22,000 level to turn things around and reach towards the 22,800 handle.
The MIB initially fell during the week but found enough support just below the 22,000 level to turn things around and reach towards the 22,800 handle. With this, we believe that the market should continue to go higher, and as a result we are buyers of breakouts above the top of the range for the week as we believe the MIB should reach towards the 24,000 handle. We have no interest in selling, we think there is a massive amount of support somewhere near the 21,600 level as the market has seen buyers in that area again and again.
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.
