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Just a simple comparison for the italian index starting from its highest peak in 2000 with the US S&P500, Dax30 and FTSE100
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 ...
Open short position between 20260 - 20435
Quick trade idea.
Review the chart for levels.
Always have your SL inplace
With the EU still poised to reject the Italian budget, there's still room for downside movement
in the FTSEMIB, which will also take it's cue from equity markets in Asia and the current risk
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.
Italian stocks are taking the hardest hit in Europe, on recent budget issues.
FTSE MIB has broken the main uptrend on daily chart. Bullish divergence for a potential bounce, but i'm expecting one more wave down.
At previous quarter low $MIB40
The Italian index showed some strength yesterday, and we could see a follow through of that bullishness today.
A break above the 21150 zone could open the path towards higher levels like 21450 and 21955, where the last is marked by the high of the 8th of August, that could prove itself as good resistance.
Alternatively, a move back below the ...
SHORT FTSEMIB RANGE WILL BE 21300 TO 17775.. ON A WEEKLY CHART
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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the price of FTSEMIB - 20524.1 at the close of 16/8 - is under the 200 weeks sma, now at 20621
The Italian Index is ready to move lower.
Since May 2018 the Index is within a corrective pattern of a zig zag aspect which will end in a new move down.
Price remains below the "Cloud" (in colors) which means that there is vulnerability.
As soon as it breaks the red line (21200), this will be the signal of the next move down.
The target range is calculated at ...
Long FTSEMIB @ 21,368; TP @ 21795, SL your choice
lOOKING TO BUY IN FOR A LONG WHEN BREAKS BULL FLAG
Moving sideways and making a Head and Shoulder type pattern. Probable path marked in chart.