The Milanese exchange initially tried to rally during the course of the day on Wednesday, but found the 19,600 level to be far too resistive. Because of
The Milanese exchange initially tried to rally during the course of the day on Wednesday, but found the 19,600 level to be far too resistive. Because of that, we turned back around and fell enough during the session to form a red candle but it appears that we are simply consolidating. Ultimately, we are looking for some type of supportive candle below, especially near the 19,000 level, or a break above the 19,800 level in order to start buying this market. We have no interest in selling this market at the moment as it appears to have formed a very strong base.
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.
