MIB Index Futures Forecast December 14, 2012, Technical Analysis

The MIB Index rose during the session on Thursday as the support continues to jump into the market in order to propel this market higher. Just above at the 16,000 level we see significant amount resistance going all the way to the 16,500 area. Because of this, we are not bullish of this market right now even though there has been a significant amount of strength over last couple months.

However, we do not like buying this market yet as we see far too many headwinds above. Also, we are getting towards in the year and one has to wonder whether or not the markets will be bullish enough to push prices higher. With this in mind, we are very flat of this market.