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MIB Index Futures Forecast December 10, 2012, Technical Analysis

By:
Christopher Lewis
Updated: Aug 21, 2015, 00:00 UTC

The MIB Index futures fell 0.86% during the Friday session as the market pullback in order to look for support at 15,600. We did get a bit of a bounce,

MIB Index Futures Forecast December 10, 2012, Technical Analysis

The MIB Index futures fell 0.86% during the Friday session as the market pullback in order to look for support at 15,600. We did get a bit of a bounce, and the candle for the day looks much like a hammer, suggesting that we could see a bounce higher. We still think that there is a significant amount of support down at the 15,600 level, but we also see that there is a bit of a top in this market at the 16,200 level for the short-term. All this being said, we expect this market to be somewhat soft but have the ability to break out to the upside on a supportive candle just below current pricing.

MIB Index Futures Forecast December 10, 2012, Technical Analysis
MIB Index Futures Forecast December 10, 2012, 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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