Hola Ola Smart Traders,
This is our master plan to Heist Bearish side of ITALY 40. I have two Targets to heist this market please look at the chart I have mentioned in our heist plan, Our target is Caution Green Zone Target 1 for Day Trade Robbers and Target 2 for swing Trade Robbers. My dear Robbers please book some partial money it will manage our risk. Be safe...
Ten years after rescuing the euro with the iconic "Whatever it takes", Mario Draghi resigns as Italian Prime Minister, as the political parties that formed his majority no longer backed him.
The uncertainty surrounding the upcoming general election reigns supreme, and the political crisis in Italy risks putting further downward pressure on the Italian FTSE MIB (...
3-4 weeks range, low risk high reward.
Italy right now is closing again from a rise in covid cases.
With the economy at the crisp of closing, the index will take a hit.
The Italian political scene
seems to be calming down
with some kind of agreement
between 5-Star movement and
the Democratic Party.
Traders would very much like to
see the cautious DP back in power
as they would likely defuse the tension
between Italy and Brussles.
We like continued upside today, with the
US being away for Labour Day.
Buy intraday dips ahead of...
European Indices trading lower across the board,
with the FTSE MIB under-performing due to
Banking sector as BTP yields rise sharply. Italy
Dep PM Salvini is calling for a General Election
Sell on pullbacks towards the most recent support
zone, looking for 19600s.
The risk of a battle between the EU and Italy is looming after the EU signalled the
launch of an EDP on the deviation of Italy’s 2018 fiscal figures from the EU targets.
Statements from the Italian government suggest Italy will not stand down.
Sell at market, since we have broken through the continuation point!
Italian markets came under strong pressure yesterday as
Bloomberg ran a story that the EUCommission June 5th will
consider a disciplinary procedure over Italy’s failure to rein
in debt. An Excessive deficit Procedure is a lengthy process,
but if the story is true, the standoff between Italy and the
EU that we had expected in the autumn could start much
earlier....
Bloomberg reported that Italian PM Conte accused Salvini of bringing down the coalition government in an end to a bad week for the Italian bond market. Meanwhile ramped up tension on the global trade front should continue to be a drag on investor sentiment.
Technically we have dropped through our first target and selling continues. We favour continuation breaks...
Italy's stock market is the weakling in Europe due to the risk-off sentiment and on the back of the downward revision of growth
in 2019 from 0.2% to 0.1% and a deficit in 2020 above 3%. The 10Y spread to Germany widened.
We have broken through a key daily sup/res level.
Momentum is negative.
Consider adding shorts on a pullback.
Last week saw the break of a bear flag. We are now resting on downtrend support. The chart looks heavy at this point.
Italian banks have major exposure to Turkey. Also, Italy threatens to drag the EU under. The Italians are not as docile as the Greeks - they do not care for whatever rules Brussels attempts to impose on them.
Thus, my next target for capital...
