MIB Forecast November 19, 2012, Technical Analysis

The MIB index fell apart during the Friday session, as we have broken below the 15,000 level. We now set up for the 14,800 level to break down, and this would be a break of the last bit of support in this general vicinity. Because of this, a break of the lows from the Friday session has a selling this market aggressively, and aiming for 14,000. With the recession in Europe finally announced, it would not be surprising at all to see this market fall and assert the bearishness that we have quite frankly been waiting for.

 

MIB Forecast November 19, 2012, Technical Analysis
MIB Forecast November 19, 2012, Technical Analysis

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