The week that has just ended has made the picture on the Ftse Mib Future even more uncertain and confused

The week that has just ended has made the picture on the Ftse Mib Future even more uncertain and confused
The week that has just ended has made the picture on the Ftse Mib Future even more uncertain and confused

Although it was very difficult given the situation of uncertainty we were talking about seven days ago, the week just ended has made the picture on the Ftse Mib Future even more uncertain and confused.

To better understand what could happen in the short term, we therefore focused on the daily time frame. In phases characterized by high uncertainty, it is only possible to avoid losses by following the trend in prices closely. Obviously, for those interested only in the long term, the indications of the weekly and monthly time frame are more than sufficient.

The week that has just ended has made the picture on the Ftse Mib Future even more uncertain and confused: the indications of the graphic analysis

At the close of 3 September the Ftse Mib Future its prices closed at 26,074, down by 0.62% compared to the previous session. The week, on the other hand, ended with an upward variation of 0.29%.

It should be noted that for the second consecutive week the prices have drawn an inside bar on the weekly time frame, another indication of strong uncertainty.

Daily time frame

In the following graph it can be seen how the situation is very complex with the critical levels very close to each other. So let’s try to understand what the most probable scenario could be by zooming in near the current levels.

With the close on Friday, not only was the very important support in the 26.110 area broken, but also a bearish signal from the Swing Indicator. It would therefore seem that for the next sessions the most probable scenario is the bearish one. If this were the case, the prices would move towards the closest target in the area of ​​25,200. A confirmation in this sense would be had with a daily close of less than 25,630.

The bulls could regain control of the current trend in the event of a daily close above 26,540.

Weekly time frame

Nothing to add to what was written in the previous weeks

For the umpteenth time, nothing has changed in the medium term scenario. The prices, in fact, once again confirmed the breaking of the very important resistance in the area 24,400 (I target price). As long as this support is not violated, the prices will point to the next target in the 31.920 area (II price target). The maximum extension of the rise passes through 39,500 area.

The bears could take control of the trend only in the event of a weekly close below 24,400

Time frame mensile

The close of August confirmed the breaking of the resistance in the 25,000 area. Everything, therefore, proceeds as expected with the prices directed towards the II price target in the 30,420 area. Only a monthly close below 21,720 would reverse the long-term trend to the downside.

For the very long-term trend, quarterly time frame, please refer to the previous report.

(We remind you to carefully read the warnings regarding this article, which can be consulted WHO”)

PREV Markets fear for Evergrande | Collapse for major cryptocurrencies
NEXT Over 200 abandoned vintage cars: they will go up for auction starting at 140 euros. Here’s where to find them – QuattroMania