The Ftse Mib yesterday reached a pace of 23,500 meters, except to stay lower. How to read the current scenario in Piazza Affari and what are the expectations in the short term?
The Ftse Mib continued to rise after a nice volume pattern, but not full, which is why I still tend to emotionally turn around in November.
The market, however, is always right and so for now we are witnessing a continuation of the rise in the Ftse Mib which has exceeded 23,030 points, which we indicated as the target last week.
The index now appears to be heading towards the next target at 23,612 points, but it should be noted that we are by now in strong overbought.
There are no signs of reversal, while we have several gaps left open by the Ftse Mib, but for now the target seems to be that of 23,612 points.
The only reason why the market could turn back will be a divergence at the level of maximums that will be formed, but to attend a descent the Ftse Mib will have to break the area of 23,030, previous resistance and now support.
Below this level the index will close the gap left open at around 22.840 points, where we find a dynamic support, broken which will look at the static one at 22.650 points.
Source link
https://www.trend-online.com/inte/pellegrino-sante-piazza-affari-061119/
Dmca
