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.
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.
