Hi,
I have in mind 2 scenarios.
Currently
FTSEMIB
is at the upper band of the BB, very close to its resistance level. I think it will be rejected and approach the support (1st rectangle area).
At this point,
IF global market conditions will be good and expected (and I mean
SPX
+ Eurozone Interest rate), then
FTSEMIB
may rebounce from this area and try to break the resistance line. [scenario A]
IF global market conditions will NOT be good and SPX will be rejected from its trendline, then
FTSEMIB
may retest the 2nd support area.
events noted: Today Lagarde's speech and on 2nd Feb the Eurozone monetary policy
I have in mind 2 scenarios.
Currently
FTSEMIB
is at the upper band of the BB, very close to its resistance level. I think it will be rejected and approach the support (1st rectangle area). At this point,
IF global market conditions will be good and expected (and I mean
SPX
+ Eurozone Interest rate), then
FTSEMIB
may rebounce from this area and try to break the resistance line. [scenario A] IF global market conditions will NOT be good and SPX will be rejected from its trendline, then
FTSEMIB
may retest the 2nd support area. events noted: Today Lagarde's speech and on 2nd Feb the Eurozone monetary policy
