The MIB gapped a little bit higher at the open on Friday, and then closed just below the 20,200 level. The fact that the market bounced off of the 20,000
The MIB gapped a little bit higher at the open on Friday, and then closed just below the 20,200 level. The fact that the market bounced off of the 20,000 level suggests that it will in fact be supportive, so if we can break above the 20,400 handle, we would be more comfortable to start buying at that point in time as the MIB could continue to fight higher. As far selling is concerned, if we broke down below 19,800 or so, we would be sellers and aiming for the 19,000 level below.
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.
