The Ftse Mib Future marks a new high after 13 years and is preparing for the final draw on the weekly time frame.
It must be said that the week was two-speed with Tuesday and Wednesday sessions seeing a downside hike of more than 4% before starting up again.
Two contrasting aspects can be seen in this trend.
On the one hand, the strength of the bulls who, after a rise that has been going on for over a year, are able to find the strength to react and start up again. On the other hand, the inability to close on the highs of thirteen years just marked.
For the next few sessions, therefore, although the most likely scenario remains the bullish one, we must be very careful.
On the weekly, in fact, there is the strong resistance in the 24,900 area which is holding back the continuation of the rise. Furthermore, the III price target in the area of 26.040 is very close, so when it is reached we could see at least a retracement. Even in this case, however, there should be no serious danger to the long-term upside. As can be seen from the monthly time frame, in fact, there is still plenty of room for the upside and only a monthly close below 21.720 could question the long-term bullish approach.
The Ftse Mib Future marks a new high after 13 years and is preparing for the final draw: The indications of the graphic analysis
At the close of May 14 the Ftse Mib Future saw hers close quotes to 24,755, an increase of 1.08% compared to the previous session. The week, on the other hand, ended with an upward variation of 0.84%.
Weekly time frame
The red oblique lines represent the Running Bisector levels; the horizontal lines the levels of The New Law of Vibration. The volume for each price level is shown on the left. The middle panel reports the BottomHunter signal. The minimum on the considered time frame is marked when it is equal to 1. The volume panel shows the volume traded for each bar compared with a 20-period zero lag exponential moving average. The Swing Indicator is shown in the lower panel showing the bullish and bearish signals on the instrument in question.
Time frame mensile
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