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MIB Forecast October 9, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 24, 2015, 23:00 UTC

The Milanese exchange had a fairly negative session on Wednesday, as we ended up forming a shooting star at the bottom of a downtrend. This is a fairly

MIB Forecast October 9, 2014, Technical Analysis

The Milanese exchange had a fairly negative session on Wednesday, as we ended up forming a shooting star at the bottom of a downtrend. This is a fairly negative sign, and as a result we are looking for supportive candles below in order to start buying or possibly selling this market if we do get below the 19,000 level, as it is a significantly supportive area. A move below there would be a relatively negative sign, and therefore we would be much more comfortable selling below that handle. If we do get a buying opportunity, we would expect 20,000 to be hit fairly soon.

 

MIB Forecast October 9, 2014, Technical Analysis
MIB Forecast October 9, 2014, Technical Analysis

About the Author

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.

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