The MIB initially tried to rise during the course of the session on Thursday, but turned back around just below the 22,500 level to fall towards the
The MIB initially tried to rise during the course of the session on Thursday, but turned back around just below the 22,500 level to fall towards the 22,100 level. Ultimately, this is a market that ended up forming a relatively bearish looking candle, but there is more than enough support just below to keep this market from falling too much further. We believe that waiting on a supportive candle is probably the way to go as far as buying is concerned, so we will wait to see whether or not we get that opportunity. In the meantime, we would just be on the sidelines.
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.
