The MIB as you can see fell hard during the course of the week, heading down to the 19,000 level where it found slight amounts of support. If we can break
The MIB as you can see fell hard during the course of the week, heading down to the 19,000 level where it found slight amounts of support. If we can break down below there though, we feel that this market will continue to fall, which certainly looks to be likely at this point. Rallies will have to be looked at with suspicion as European indices in general continue to struggle. With that, we are very bearish of the MIB at the moment, and would not hesitate to start selling below that support level.
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.
