Once again, inflation data and the winds of a possible recession in Europe cause equity markets to collapse. If to this, then, we add the fact that Russia could cut gas supplies, this explains the decline after four consecutive weeks on the rise, a sequence that has not been seen since March 2022.
In spite of everything, however, the Ftse Mib Future manages to maintain a bullish bias that could be severely tested next week.
Investing now in the Ftse Mib Future could be low risk
At the close of August 19th the Ftse Mib Future saw hers close quotes to 22,554, down by 1.89% compared to the previous session. The week, on the other hand, ended with an upward variation of 1.89%.
The trading levels on the daily and weekly time frame
A very difficult week for the Ftse Mib Future which immediately accelerated downwards, returning close to the very important support in the 22.510 area.
Therefore, the scenario that sees prices aiming for the II price target in the area of 24,990 remains valid. The maximum bullish extension, on the other hand, could go to the 27,470 area.
The failure of the former resistance, however, could open the doors to a descent up to area 21,500. Only a daily close below 20,977, however, could reverse the current trend to the downside. In this case, returns below 20,000 area could also be possible.
Despite the decline, even on the weekly basis everything seems to go in the direction of the rise already anticipated at the end of July. The support in the 22.510 area, in fact, continues to resist bearish pressures. As long as this level remains unchanged, the prices could reach the next target in the area of 24.990. The maximum bullish extension, on the other hand, could go to the 27,470 area.
Only a weekly close below 22.510 could undermine the bullish scenario. In this case, returns in the area of 20,000 cannot be excluded. Next week, therefore, could have a very important impact on the medium / long term future.
Since the support in the 22.510 area is also fundamental on the daily time frame, a clue of what could happen at the closing of the week could already come from the close of the first sessions of next week.
Since the prices are very close to the key level in the 22.510 area and given the possibility of monitoring it also on the daily time frame, investing now in the Ftse Mib Future could be low risk.
FED policy fears sink the euro against the dollar
The results of the forecasts in this article are based on statistical calculations explained in the ebooks published by ProiezionidiBorsa and processed on the basis of the available price history. (We also remind you to carefully read the warnings regarding this article and the author’s responsibilities, which can be consulted HERE”)
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