Friday 5 January was a mixed day on the Italian stock market which fell towards an important support zone before starting a fast intraday recovery, fueled by the positive behavior of the banking sector.
Il Ftse Mib future (expires March 2024) in fact leaned on the support placed at 30,250 points before bouncing up to 30,650. The short-term technical situation appears mixed: before being able to attempt a new extension, an adequate re-accumulation phase will therefore be necessary. In fact, only the return above 30,720 points could provide a new signal of strength.
However, the collapse of the support at 30,250 is dangerous as it can trigger a rapid correction towards 30,150 points first, then to 30,050 points and in the 29,930-29,900 area at a later time. Only one descent below this area was negative.
Intraday operating strategy for Monday 8 January (future March 2024). Short a 30.630 with targets at 30,550 first, then at 30,480 and in the 30,380-30,370 area at a later time. Stop at 30,720. (All rights reserved)
Gianluca Defendi
Posting time: 08/01/2024 07:45
Last update: 08/01/2024 07:45
2024-01-08 06:45:28
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