The MIB Index rose during the previous week as the 16,200 level has given way to the buyers. The next hurdle will be 16,500, and if we can get above that
The MIB Index rose during the previous week as the 16,200 level has given way to the buyers. The next hurdle will be 16,500, and if we can get above that level we think that this market could really take off. We believe that eventually we will target the 18,000 level, but 17,000 should be a bit of resistance as well. Nonetheless, we are very confident in the bullishness of this marketplace and think that buying on a breakout above the 16,500 level will be rewarded. As far as selling is concerned, we have no base case scenario to do so.
MIB Futures forecast for the week of December 24, 2012, Technical Analysis
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.
