The MIB as you can see try to go higher initially during the session here on Monday, but found the 19,000 level area to be a bit too resistive. It is
The MIB as you can see try to go higher initially during the session here on Monday, but found the 19,000 level area to be a bit too resistive. It is above there that we would become a buyer though, or on a pullback to show signs of support. With that, we believe that most European indices should continue to go higher, and with a hammer on the weekly chart it appears that the market should continue to go higher. With that, we are buyers but we do not have enough of a signal at this moment to do so.
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.
