The Milanese exchange initially fell during the course of the day on Wednesday, but found enough support at the 19,000 level to turn things back around
The Milanese exchange initially fell during the course of the day on Wednesday, but found enough support at the 19,000 level to turn things back around and form a nice-looking hammer. Because of this, it appears the market is trying to break out to the upside, and a move above the 19,400 level has us start buying. Ultimately, we do believe that this market does go higher, but at this point in time we need to see a daily close above the aforementioned 19,400 level in order to be comfortable buying. Selling at this point in time really isn’t much of a thought.
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.
