Breaking News
Monday 17 June was a decidedly positive day on the Italian stock market which, after the sharp decline last week, made a rapid recovery.
The Ftse Mib future (expires June 2024) in fact relied on the support placed at 32,600 points and rose towards 32,950 points. Despite this rebound, the technical situation still remains precarious, with the main directional indicators (Macd, Parabolic Sar and Vortex) still in a short position. However, the very short-term strong oversold can prevent a further collapse and favor a re-accumulation phase. A rebound will still have to face a first obstacle close to 33,450 points and a second barrier in the 33,680-33,750 point area.
However, a drop below 32,600 points is dangerous although, from a graphic point of view, a new bearish signal will only arrive with the collapse of 32,490 points (with a target of 32,350 first, in the 32,250-32,230 area then and towards 32,120 points at a later time).
Intraday operating strategy for Tuesday 18 June (future June 2024). Short only on rebound towards 33,450 with targets at 33,350 first, then at 33,250 and in the 33,160-33,140 area at a later time. Stop at 33,560. (All rights reserved)
Gianluca Defendi
