FTSE MIB forecast for the week of October 29, 2012, Technical Analysis

Milan found itself fairly quiet during the previous week, as we continued to pump around just below the 16,000 level. Because of this, it is difficult to trade this market long-term until we clear either the 15,000 level in order to start selling or the 17,000 level in order to start buying as it would represent a breakout above a double top.

Trading the European periphery will be very difficult going forward until there is some type of solution to the debt crisis. If and when Spain asked for the inevitable bailout, it’s very likely that this market will continue higher. However, until that happens more than likely going to be a short-term traders market at best.

 

FTSE MIB forecast for the week of October 29, 2012, Technical Analysis
FTSE MIB forecast for the week of October 29, 2012, Technical Analysis

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