FTSE MIB Futures Forecast November 5, 2012, Technical Analysis

The malign exchange had a fairly strong session on Friday considering how weak most global markets truly were. However, the range still isn’t that significant in the futures market, and as such we are currently drifting higher in what is a relatively small consolidation area.

We see the 16,500 level as a serious hurdle to having this market go much higher. However, there are short-term opportunities now if we can get above the highs from the Friday session. Nonetheless, we still think there is only about 500 points in this move. On the other hand, if we managed to break the lows from the Friday session, we would be willing to sell a small position. If we managed to get below 15,000 on a daily close, we would become a rest only short of this market as it would show significant support giving way.

 

FTSE MIB Futures Forecast November 5, 2012, Technical Analysis
FTSE MIB Futures Forecast November 5, 2012, Technical Analysis

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