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Tuesday 18 June was a positive day on the Italian stock market, with the Ftse Mib index making a rapid recovery, fueled by the rebound in the banking sector.
The Ftse Mib future (expires June 2024) in fact rested at 33,100 points and rose towards 33,370 points. Despite this rebound, however, the technical situation remains precarious, with the main directional indicators (Macd, Parabolic Sar and Vortex) That they are still in a short position. However, the very short-term strong oversold can prevent a further collapse and favor a re-accumulation phase. A further rebound will however face a tough obstacle in the 33,600-33,700 point area.
However, a drop below 32,750 points is dangerous although, from a graphic point of view, a new bearish signal will only arrive with the collapse of 32,600 points (later confirmed by the break of 32,500 points.
Intraday operating strategy for Wednesday 19 June (future June 2024). Short only on rebound towards 33,600 with targets at 33,500 first, then at 33,410 and in the 33,270-33,250 area at a later time. Stop at 33,700. (All rights reserved)
Gianluca Defendi
