Weekly monitoring of the Italian benchmark index.
Why do we do this?
Check our strategy page.
My proprietary DBBT indicator identifies misalignments between the current price and the expected technical level on major indices.
Every week, the FTSE MIB is in our crosshairs.
The hunt is open.
Last week the question was clear: what would the market do once it reached the MA50W?
The answer came at the open, with a gap down to 41,929.20 and a low at 41,616.11.
The bearish break of the MA50W was not confirmed.
The market bounced sharply, recovering up to the MA5W, which however acted as resistance.
The failure to confirm the MA50W break, combined with a loss of strength across other indicators, triggered the closure of short positions in our system.
Let's look at what the market structure is telling us from here.
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