MIB Forecast November 18, 2015, Technical Analysis

Looking at the Milanese exchange, you can see that we broke out to the upside at the open on Tuesday, gapping above the 22,000 level. The market looks as if it is ready to head towards the €22,800 level, but of course it will take a bit of effort. The market has quite a bit of noise just above, so quite frankly we feel it’s easier to buy short-term pullbacks in order to go long of this market. We have no interest in selling, we believe that the MIB will eventually break out to the upside and above the recent highs.