The Milanese index fell during much of the session was over the previous week, but bounced in order to form a hammer just under the 16,000 level. This
The Milanese index fell during much of the session was over the previous week, but bounced in order to form a hammer just under the 16,000 level. This looks like a market that’s trying to rise over time, but there is a ton of resistance between 16,000 and 16,500 or so. With that being the case, we also see quite a bit of resistance all the way up to 17,000 also. With all that noise, there are simply easier trades out there to be involved with. With that in mind, we do believe that there is an upward bias, but are not interested in trading from a longer-term perspective right now.
MIB Index futures for the week of December 3, 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.
