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
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.
