Medium term view - FTSE MIB : Major support reinstated
The support has been broken, the trend becomes negative as we now have a succession of descending peaks and troughs.The next target is at 19,442.70 pts. The invalidation level is below 22,574.70 pts.Arguments :
- The major support has been shortly breached, but it is now reinstated. Prices can bounce.
- Prices are breaking below the moving average, it is a sign of weakness.
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