The Milanese index fell during the session on Thursday as 16,000 continues offer quite a bit of resistance. In fact, we see resistance all the way up to
The Milanese index fell during the session on Thursday as 16,000 continues offer quite a bit of resistance. In fact, we see resistance all the way up to 16,500 and as a result are hesitant to go long of this marketplace right now. We think that pullbacks will eventually meet support, and at that point in time buying is possible. Until then though, we simply are not interested. The alternate route to buying this market is seeing a daily close above the 16,500 level. As for selling, a break down below the 15,800 level would invite a move down to 15,500 or so.
MIB Index Futures Forecast December 7, 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.
