Technical Commentary : The FTSE MIB aims to replicate the sectoral distribution of the national Italian market, bringing together the 40 largest stocks listed on the Milan Stock Exchange. This index has been evolving in a bearish trend for several years…….
Day By Day – Indipendent Research
Anticipation :
In the shorter term, the overflow of the 14,420 points major level confirmed the reversal of the dynamic and generated a sharp bullish acceleration. After a precise 38.2% correction of the previous bullish leg and a brief bearish excess below the 15,360 support (former resistance), prices resumed their bullish trend even stronger. The next movement is expected to join the resistance 16,765 points, the previous top of the dynamics. The rising 50-day moving average is a dynamic support confirming this expectation. The trend remains bullish in the short term and we set the invalidation threshold of this scenario slightly below the 15,360 support points, the last level of rebound.
| Close price | 15876,25 |
|
|
|
| 2 months Opinion | NEUTRAL |
| 2 weeks Opinion | POSITIVE |
|
|
|
| Resistances | 16068, 7 / 16765,2 pts |
| Supports | 15360,0 / 14420,0 pts |
|
|
|
DISCLAIMER
This publication is solely intended as information and does not constitute any investment advice or an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any transaction. Althoughthis publicationis issued in good faith, no representation or warranty, express or implied, is or willbe made and no responsibility or liability is or willbe accepted by NYSE Euronext or by any of its officers, employees or agents in relation to the accuracy or completeness of this publicationand any such liability is expressly disclaimed.No information set out or referred to in this publicationshall form the basis of any contract. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext encourages you to reach your own opinion as to whether investments are appropriate or relevant and recommends you not to make any decisions on the basis of the information contained in this publication before checking it, as you will bear full responsibility for any use that you make of it. Persons wishingto trade products available on NYSE Euronextmarkets or wishingto offer such products to third parties are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. All proprietary rights and interest in or connected with this publicationare vested in NYSE Euronext.No part of it may be redistributed or reproduced in any form or by any means or used to make any derivative work (such as translation, transformation, or adaptation) without the prior written permission of NYSE Euronext. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE EuronextSM, Euronext®, trackers®, are registered marks of NYSE Euronext.
Source: ETFWorld – Day By Day – Indipendent Research
