📍 This diagram comes after the conversation with @lu1977hk, and is no more imaginative than the positional flows across the global equity board.
In Italian Equities the initial offensive targets for sellers come in at 18,466; 17,643 and 16,819 from a "fibs perspective". The connection of further downside in European and Global Equities is more or less the same...
INDEX:FTSEMIB is clearly in a multiple years Sideways Market. I'm bearish with all the italians markets.
Only yesterday I've shorted the index on IB . Today I've opened a Sell PUT Option.(looking forward to build some other strategy on this one).
As expected and suggested in a previous post, I was expecting to see the index hitting 25000 points.
Now I expect to see the index going back at least to 22000 / 21500 in the short term.
See you soon with new trading ideas,
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
.zip (with PDF`s) @ my Google Drive
In percents away from all-time high & low by last close (57 Share Indices)
Best regards :)