We had big sell off during last couple of days and if price manage to breaks white trendline there is high chance we going to have continuation move to downside. I expect to reach the target from triangle pattern at around 14700 level.
Another possibility is that we have inverted head and shoulders pattern in development and price will bouce back with target as on...
we are in the wave 2 of 5 ( wave 5 of the bull market which began in 2009 ) on sp 500, it should go back at about 2000
14700 then 14200 on ftse mib, then it should go up at 19-20k for the next year following sp 500
Still too many risks on the Italian Index; with the approach of the referendum it could suffer a sharp increase in volatility. Our medium- term targets remain unchanged. No economic growth, public debt continues to increase, and deficit is next to lose control. The situation of MPS and the overall banking sector could lead to widespread bail-in.
With the choppyness and slightdowntrend recently INDEX:MIB is going to see a bullish jump basic support and resistence along with the TL being broken shows a reversal (OVERSOLD). Price is well below the 50 and 20 EMA
If you are looking for shorting opportunities on FTSE MIB sell the breakout. If the price breaks the black downward trendline with a strong impulse to the upside this setup is over. Bullish divergence on daily, more upside is possible.
Friends,
A confluence of technical hurdles is likely limiting any immediate upside potential in the Italian MIB Index, based on the following set of observations:
1 - ELLIOTT WAVE + GEO: In the most recent past (12-19 OCT 20009), price rallied to complete Elliott Wave's 4th wave, completing its corrective swing at 24558.00. This became a spring board from...
As we can see, according to the E.waves theory, the Index is now finishing to complete the second wave of the third wave of the macro waves structure. For this reason i'm waiting for a buy opportunity when, in the lower time frame, i will see the right pattern/structure/wave formation that confirm this movement.
I'm going to look for this type of entry until the...
We continue to believe that the situation is not resolved, especially in the financial sector. Our latest analysis of Unicredit, Intesa and the FTSE - Mib index were a success. The problems in the banking sector continue to be very serious, and even the Summit on 29 June in Brussels between Italy, France and Germany did not bring anything good. In addition, the...
