MIB Index Futures forecast for the week of December 31, 2012, Technical Analysis

The MIB index had a relatively weak showing this last five sessions, as the 16,500 level proved to be far too resistive. However, we have definitely seen an upward bias in this market lately, and believe that the 16,000 level should offer plenty of support for buyers as a step back into the market going forward. With this being said, we are looking for supportive candles in order to start buying this market as we believe that breakout is somewhat imminent. This marketplace had been beaten up over the European debt crisis, but now the date European Central Bank is offering support for the periphery and its bond, this market is primed to go much higher in 2013.