Short
IT40:The real excuse for more strict restrictions in Italy
Hi everyone!
As showed in my previous analysis on Dow Jones Industrial index(US30),also on the Italian major index we can see shaping a strong reversal trend patter(Head&Shoulder) on monthly timeframe.
Also,we can notice that the bull trend started last year in April,due to huge injections of liquidity made by ECB given by a so called tool named Quantitative Easing,it's running out of steam...
Technically we could say that,but in reality the end of this run is the result given by the fact that ECB will finish soon to inject money in the market(QE),and big speculators knowing so are starting to take off their profits.
With the actual pattern given by market structure I can see the value of the Italian index dropping to next strong support level,which is around 22000/22500 €.
Please feel free to share the idea or add a comment below :)
Hot winter is coming........
As showed in my previous analysis on Dow Jones Industrial index(US30),also on the Italian major index we can see shaping a strong reversal trend patter(Head&Shoulder) on monthly timeframe.
Also,we can notice that the bull trend started last year in April,due to huge injections of liquidity made by ECB given by a so called tool named Quantitative Easing,it's running out of steam...
Technically we could say that,but in reality the end of this run is the result given by the fact that ECB will finish soon to inject money in the market(QE),and big speculators knowing so are starting to take off their profits.
With the actual pattern given by market structure I can see the value of the Italian index dropping to next strong support level,which is around 22000/22500 €.
Please feel free to share the idea or add a comment below :)
Hot winter is coming........
Trade fermée: cible de profit atteinte
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.