The FTSE MIB has consolidated the double WXY correction of Minor grade that we were following. The longer-term scenario has affirmed the conclusion of the bearish movement started in May 2018 and the structure that seems to be forming is that of a triangle ABCDE. Therefore the main scenario is that of a triple correction of WXYXZ Minor grade, agreeding with the...
Compared to the last update, the first scenario seems to have been confirmed, which represented Minor X wave as an expanding triangle. The first Intermediate 4 wave target we had set was reached (0.5 Intermediate 3 retracement and Minor W 0.786 extension). Minor Y wave is still in construction and seems to be forming like a zig zag. Wave B Minute seems to have...
The FTSEMIB remains in its phase of correction of the long-term bearish trend. In particular, Wave 4 Intermediate would seem to be forming as a double three (double correction) WXY of Minor degree. The latter after finishing the W as flat expanded, has given way to the X, which at the moment seems to have completed as a double three (WXY) Minute grade. The latter...
Bullish channel on FTSE MIB on the daily chart. 20226 could play resistance.
***As usual, not a trading advice of any sort. Informational and educational purposes only***
Guys,
A long black candle associated to increased volumes and the widening out of the Bollinger Bands give us a clear indication about the
next direction downwards.
A closure below the horizontal support will be devastating. 1st target at 1 euro. There is much more room to see the stock tumbling down
below 1 Euro
Thank you guys,
Simone
And the answer is... not exactly! FTSEMIB It could go even lower than you think. This is a weekly chart so there's no call here.
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Couldn’t find good long-term data for the Italian stock market. The price action going into 2000 is clearly an upwards correction. Since 2000, the MIB has traced out a Simple Flat, follow by a triangle B Wave and the ensuing Super Cycle C Wave is going to be brutal. 'Italy' will cease to exist as a political entity by mid-2020…
'Italy' has always been desperate...
Our bias on the Italian stock market continues to be short. The deadline for presenting an acceaptable budget to the EU is Oct. 15th, and no progress has been made. Italy still remains on an opposing foot and thus the markets are maintaining the pressure on Italian stocks.
If there will not be good news for the Italian economic planning, I am expecting a bounce next week to re-test the resistance, then sell-off.
FTSE MIB got rejected hard from the monthly 200 MA on May 2018, when the new government was made. Since then, markets didn't do well at all.
From a technical point of view, the Italian index could trigger something like a wave (5), and if this is correct, we do not rule out a new TOP in the medium term. That said, we can try to take a long position around 21.536/21.351, and put stop loss below 21.153. This setup has a good R/R ratio (> 1: 3).
if you think this analysis can be useful, leave a your...
Hello traders! Today i want to show you FTSEMIB - italian index! It finally broke 24000 resistance area that as you can see from a weekly perspective it was a really important resistance zone! Usually don't post a lot of ideas about indexes but this one is really a nice breakout! Have a nice day traders!
![FTMIB: [FTSE-MIB] BULLISH CONSOLIDATION?](https://s3.tradingview.com/r/rUMrZvE1_mid.png "[FTSE-MIB] BULLISH CONSOLIDATION?")
