Ftse Mib: trading ideas. Fca under the lens

The analysis of the Ftse Mib

The new week started with a minus sign in Piazza Affari which was tuned to the negative trend of the other European exchanges, among which only the London one was an exception.

The Ftse Mib fell by 0.53% to 23.463 points, denying the positive signal of last Friday and going down to test the first supportive area worthy of note, such as that of the 23,350 / 23,300 points, which remained untouched at the time.

With the holding of the level just indicated the blue chips index could start a recovery that over 23.500 / 23.600 points will assume a consistency such as to hypothesize a new attack last week's maximums in area 23.800.

The breakdown of this obstacle will project the Ftse Mib towards the next obstacle of 24,000 points, another important threshold of verification for the market.

The possible breakthrough of the 24,000 area will open the door to a bullish extension towards the tops of 2018 at 24,000 / 24,550 points, indicated by many as a potential target for the end of the year.

Signs of a weakening of the existing bullish structure will result with the collapse of the 23,350 / 23,300 points, under which the descent of the Ftse Mib will continue towards the area of ​​23,000 / 22,950, where the gap-up left open in the session of 4 November last will be closed.

The abandonment of this last threshold will be negative, a prelude to a continuation of the corrective phase with the first target of 22.750 points and the subsequent target area 22.500.

Fca: first alarm bell, but the key support is lower