Hi,
I have in mind 2 scenarios.
Currently
FTSEMIB is at the upper band of the BB, very close to its resistance level. I think it will be rejected and approach the support (1st rectangle area).
At this point,
IF global market conditions will be good and expected (and I mean
SPX + Eurozone Interest rate), then FTSEMIB may rebounce from this area and try to break the resistance line. [scenario A]
IF global market conditions will NOT be good and SPX will be rejected from its trendline, thenFTSEMIB may retest the 2nd support area.
events noted: Today Lagarde's speech and on 2nd Feb the Eurozone monetary policy
I have in mind 2 scenarios.
Currently
FTSEMIB is at the upper band of the BB, very close to its resistance level. I think it will be rejected and approach the support (1st rectangle area). At this point,
IF global market conditions will be good and expected (and I mean
SPX + Eurozone Interest rate), then FTSEMIB may rebounce from this area and try to break the resistance line. [scenario A]IF global market conditions will NOT be good and SPX will be rejected from its trendline, then
FTSEMIB may retest the 2nd support area. events noted: Today Lagarde's speech and on 2nd Feb the Eurozone monetary policy
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.