The Milanese exchange initially tried to rally but turned back around at the 22,700 level to fall drastically. By doing so, we ended up forming a shooting
The Milanese exchange initially tried to rally but turned back around at the 22,700 level to fall drastically. By doing so, we ended up forming a shooting star. The shooting star of course is very negative, but we are still well within the consolidation area that we have been in for some time. We are going to ignore this selling signal, and simply wait for buying pressure below in order to form a supportive candle. We also would be buyers on a break above the top of the shooting star for the session on Wednesday.
MIB Forecast November 12, 2015, Technical Analysis
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.
