MIB Futures Forecast November 12, 2012, Technical Analysis

The MIB futures fell during most of the session on Friday, but found quite a bit of a bid at the 15,000 level. This makes sense, as it is such a large round psychological number, and the fact that it is the bottom of the recent consolidation that we have been trying to form.

Looking at this chart, it is obvious that this market gets very bearish underneath the 14,800 level, and bullish above the break of Friday’s candlestick. If we do break to the upside, we should see a move to the 15,800 level. If we break below, we would think that a move to 14,000 couldn’t be ruled out.

 

MIB Futures Forecast November 12, 2012, Technical Analysis
MIB Futures Forecast November 12, 2012, Technical Analysis

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