“After a long downturn, the Mib30 bounced in recent weeks on the support of 26,100, but the next breakout of 28,000 was only a false signal,” said Valerio Fraccaro, technical analyst at B & S Joint. “The index is then returned to test part 26.500, before bouncing scored on the end of the last octave. And ‘possible to envisage the formation of a figure head and shoulders (H & S) bullish, with slightly sloping neckline that currently passes for 28,300 whose confirmation identifies a target at an altitude of 30,500 to complete the pattern. But first you must pass another major area of resistance around 29300/29500. Fraccaro recommended in all cases to maintain an attitude of extreme caution, as the tendency of the medium to long term remains negative and had the good signs last week were not confirmed to be volumes increase. A possible upside of the short term should be exploited for trading operations or close to lighten positions. “The picture is still rather uncertain,” the analyst continued. ‘And’ necessary at this point keeping 27000/26800 but above 26,100 not to see a further weakening of the market. “
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