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After a dangerous month of March, the Ftse Mib (dating) saw the month of April flow quite easily.
In March, the index in italics closed with a loss of 20% after losing even 40% and having made a minimum-maximum excursion of approximately 60%. April, however, was much more “peaceful”. The end of the month saw a gain of approximately 4% compared to the previous month and a minimum-maximum excursion of approximately 14%.
In essence, therefore, April was interlocutory, having produced an internal bar compared to the previous month.
What are the indications for graphical and prognostic analysis on the Ftse Mib?
Weekly time frame
In the weekly time frame, the current trend is bullish, also supported by a signal from the BottomHunter, but is struggling to take off. Resistance in the 17305 area, in fact, has so far rejected upward pressure and prevented the first target price in the 19500 area from being reached. Therefore, for the next few weeks, weekly closings above 17300 they must be carefully monitored and confirmed in subsequent sessions. Only in this way would we have more support for the scenario that sees the achievement of area 19500.
Similarly, weekly closings of less than 15,930 would reverse the ongoing downward trend.
levels of the new law of vibration. The lower panel shows the BottomHunter signal which, when equal to 1, indicates that the minimum has been marked, in the period of time considered.
The closing in April added nothing to what we no longer knew. The current trend is downward and in May only monthly closings below 15,490 would accelerate prices towards the second target price in the 13210 area. Conversely, a close above 16910 would accelerate towards the 19180 area. However, only monthly closings above 19180 would definitely abandon the bearish scenario.
Conclusion: for the month of May the password must be prudent. The range allowed in the monthly magazine, in fact, is very wide and could lead to significant losses. In these cases, it is advisable to keep the pulse of the situation by monitoring the market trends weekly. On the other hand, there has not yet been a BottomHunter signal in the monthly magazine that would definitely set the long-term downtrend aside.
Ftse Mib: Bearish projection in progress in the monthly time frame. The blue line represents the running bisector levels; the red line the levels of The new law of vibration. The lower panel shows the BottomHunter signal which, when equal to 1, indicates that the minimum has been marked, in the period of time considered.
deepening
2 reasons to go up the markets and 2 to go down
