Where will the rise of the Ftse Mib Future stop after the prices have marked sixteen (16) consecutive sessions with a closing greater than the opening? Because this is the extraordinary record we have seen in recent weeks. Suffice it to say that in the last fifteen years we had never witnessed such a succession. The previous record dates back to 2005, when there were 8 consecutive sessions all with closing greater than the opening.
We have therefore witnessed a historic record that has seen the Ftse Mib Future gain over 20% since the close of October. We may, therefore, have reached the point where a short retracement is not only very likely, but also necessary before a new restart.
Where will the rise of the Ftse Mib Future stop according to the graphical and forecast analysis?
At the close of November 20 the Ftse Mib Future saw hers close quotes to 21,681, up by 0.76% compared to the previous session. The week, on the other hand, ended with an upward variation of 3.77 %%
Daily time frame
The succession of sixteen consecutive upward sessions led the prices to reach and break upwards the III price target in the 21.190 area. At this point, a retracement is very likely that will release the tension to the upside, before starting again towards objectives that can be defined only after the completion of the retracement.
In the short term, therefore, you must be very careful to expose yourself a lot to avoid the risk of getting stuck.
Ftse Mib Future: ongoing bullish projection on the daily time frame. The red oblique lines represent the Running Bisector levels; the horizontal lines the levels of The New Law of Vibration. On the left, the volume for each price level is shown. The middle panel reports BottomHunter’s signal. The minimum on the considered time frame is marked when it is equal to 1. The lower panel shows the volume traded for each bar compared with a 20-period zero lag exponential moving average.
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Weekly time frame
The strong weekly rise served to break even 21,543 area. At this point the road to the upside towards the objectives indicated in the figure should be cleared.
As we said, however, it is not to be excluded, especially if triggered by the lower time frames, that it can be fast retracements. The important thing is that the support in the 19.335 area always remains unchanged at the end of the week.
Ftse Mib Future: ongoing bullish projection on the weekly time frame. The red oblique lines represent the Running Bisector levels; the horizontal lines the levels of The New Law of Vibration. On the left, the volume for each price level is shown. The middle panel reports BottomHunter’s signal. The minimum on the considered time frame is marked when it is equal to 1. The lower panel shows the volume traded for each bar compared with a 20-period zero lag exponential moving average.
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Time frame mensile
The month of November “risks” causing the prices of the Ftse Mib Future to explode. In fact, a monthly close of more than 22,180 would be enough to give strength to a bullish projection that points to 30,793 (II price target) and to follow towards 39,463 area.
Failure to break, on the other hand, could have negative implications as a double top could be configured in the 22.180 area. In this case, descents in the area of 18,915 for the month of December could be possible.
Ftse Mib Future: ongoing bullish projection on the monthly time frame. The red oblique lines represent the Running Bisector levels; the horizontal lines the levels of The New Law of Vibration. On the left, the volume for each price level is shown. The middle panel reports BottomHunter’s signal. The minimum on the considered time frame is marked when it is equal to 1. The lower panel shows the volume traded for each bar compared with a 20-period zero lag exponential moving average.
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Deepening
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