The MIB index moved very little during the session on Monday, losing 70 points at the end of the day. We still find ourselves just below the 16,000 level,
The MIB index moved very little during the session on Monday, losing 70 points at the end of the day. We still find ourselves just below the 16,000 level, and as such we are at the top of the recent consolidation area. We still like the look of shorting this market, and would do so on a break of the Monday lows. As far as buying is concerned, we see far too much noise between current levels and 16,500 in order to get involved. Also, we do not like buying the periphery of Europe even though it appears that the European Central Bank has provided a nice backstop for some of these countries.
MIB Futures Forecast December 4, 2012, Technical Analysis
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.
