Ftse Mib Italian stock exchange forecasts trend trading signals

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Ftse Mib Italian stock exchange forecasts

Ftse Mib Italian stock exchange forecasts technical analysis and signals in the short and long term using economic cycles discovered by WD Gann.

Ftse Mib chart with weekly technical picture

Ftse Mib Italian stock exchange forecasts today
Ftse Mib index weekly 29.04.24

Ftse Mib index Italian stock exchange today

Following the Set Up weekly of 21 October 2022 and the 1X8 and 1X16 corner supports, the Ftse Mib Index has established a new bullish dynamic both in the short and medium term.

As is evident in the image just above, the positive trend of the Italian Stock Exchange, following the various octave static and dynamic resistances, has undergone several momentary stops, but has always managed to break to the upside the previous highs, not violating the prices of the lows.

Despite the negative sideways correction in the period 04 August 2023 – 27 October 2023, the bottom made on the 1X4 angular support visible in purple, at 27,078 points, leaves intact the previous weekly lows made on 23.12.22, 24.03.23, 02.06.23.

The Minimum Square expired on 10 November 2023 restarted the weekly ascending dynamics of the Italian Stock Exchange:

the Mib in fact maintained its propulsive force until the week of 15 December, a period in which it made a brief sideways move.

In fact, following the Stock Exchange signal of 02 February 2024, the positive returns of the Ftse Mib Index remained constant for a good 8 weeks until the expiry of the new Stock Exchange signal, Quadrato di Minimo, relative to the week of 05 April.

Following this last signal we have witnessed a partial correction that will have to be confirmed by the next Set Up weekly.

Next stock market signal coincides with the week of 03 May 2024.

For prices below 33,390 the Italian Index will continue with short-term weakness: supports in the area 32,930; 31,970.

For prices above 34,580 a positive laterality will be restored: resistances 34,550.

Italian Stock Exchange Mib Index: Medium-term analysis

Italian Stock Exchange Mib Index today
Ftse Mib monthly index 29.04.24

Following the expiry of the Monthly Set Up in October 2022, the trend of the Ftse Mib from negative reversed in a bullish direction.

The static resistances in the 27,730-26,920 area, which had contributed to the negative reversal of the trend in the November 2021-January 2022 period, were broken to the upside in July 2023, subsequently turning into important supports.

In fact, following the negative retracement in October 2023, prices reached 27,080, right at these static levels, to resume the bullish run just after the expiry of the monthly set-up last November.

Since last November’s signal, the swing chart has remained positive until today:

from a low of 27,676 in November to a high of 34,907 last April.

The month of May 2024 coincides with an expiry of the range square.

For prices above 34,940 the medium-term positivity will be confirmed with resistances in the area of 35,320; 36,290.

For prices below 33,280 the dynamics of the Mib stock will reverse into a negative sideways trend: supports in the 32,720-32,500 area; 30,920.

Mib Italian Long-Term Stock Exchange

Mib Italian Long-Term Stock Exchange
Ftse Mib quarterly index 29.04.24

The long-term trend remains firmly bullish.

However, quotations have reached important dynamic resistances in the 34,800 area and further close 1X8 descending and static resistances lie in the 36,250-37,815 area.

For now, yields are holding on their Drift, which is worth 34,540 points in Q2 2024.

However, because of these obstacles, negative retracements are possible on the supports in the area 32,870; 31,520.

Only a return below 29,870 points can reverse the scenario of the Mib’s quarterly dynamics.

The technical framework and forecasts for the Mib Index have been illustrated using the WD Gann technique and the Borsa Top Trader(c) software.

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