In line with other major global index, in the short term there is a retracement even by Italian index. The price reached the resistance area between 21450 and 21550 points. A break on the upside would have led to a continuation of this uptrend up to the next resistance zone located between 21700 and 21900 points. A rejected, ( because as we said "In the short term there is a retracement even by Italian index" ) seems to be happening, should bring the price to retest the key level of support identified by the EMA 200 periods and passing about 20500 points.
European Macros
The fundamental scenario remains strongly uncertain for the Eurozone. Especially after the last ECB meeting in which Draghi stated that it is not only possible to change monetary policy due to slow growth. It is necessary to restore a low-cost liquidity injection to stimulate the economy by the end of 2019.
Fed Effects
The uncertainty of the Fed is added to the ECB. In fact the Fed would seem to have decided to not raise interest rates. At least throughout this year, if not also the next. Due to a possible market destabilization with a restrictive monetary policy. In any case, even this choice has left uncertainty among investors who in the short term could liquidate long positions favoring a reversal of world indices.
European Macros
The fundamental scenario remains strongly uncertain for the Eurozone. Especially after the last ECB meeting in which Draghi stated that it is not only possible to change monetary policy due to slow growth. It is necessary to restore a low-cost liquidity injection to stimulate the economy by the end of 2019.
Fed Effects
The uncertainty of the Fed is added to the ECB. In fact the Fed would seem to have decided to not raise interest rates. At least throughout this year, if not also the next. Due to a possible market destabilization with a restrictive monetary policy. In any case, even this choice has left uncertainty among investors who in the short term could liquidate long positions favoring a reversal of world indices.