The MIB as you can see gapped lower at the open on Friday, and then went back and forth in order to form a very neutral candle. With that, although we
The MIB as you can see gapped lower at the open on Friday, and then went back and forth in order to form a very neutral candle. With that, although we think that this market is very negative overall, we recognize that there is a bit of support just below. Because of that, we feel that this market will eventually bounce again, unless of course we break down below the recent low. If we do, at that point time we feel that the MIB sells off drastically. Once that move happens, this market could really start sell off rather significantly.
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.
