The MIB fell during most of the session on Tuesday, as we crashed through the 22,000 handle. This is an area that should be somewhat supportive though,
The MIB fell during most of the session on Tuesday, as we crashed through the 22,000 handle. This is an area that should be somewhat supportive though, because we did gap here. With this, we are waiting to see whether or not we get a supportive candle that we can start buying. We don’t have any interest in shorting the market right now, because we see far too much in the way of support near the 21,500 level. We will wait to see whether or not we get a daily supportive candle or a bounce in order to start buying, but quite frankly this market looks fairly quiet at the moment and thereby keeps us on the sidelines.
MIB Forecast November 25, 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.
