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.
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.
