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.
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.
