The MIB as you can see try to rally during the day here on Wednesday, but found the 21,000 to be a bit too resistive. Because of this, we fell back and
The MIB as you can see try to rally during the day here on Wednesday, but found the 21,000 to be a bit too resistive. Because of this, we fell back and formed a shooting star. The shooting star suggests that we are going to stay in the consolidation area again, and because of that we think that the market is probably heading to the 10,300 level. That area has been supportive recently though, so we would expect the market to bounce from there as well. If we can get above the 21,000 level though, we would be buyers.
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.
