Ftse Mib Italian stock market forecasts analysis and trading signals 2024

Italian stock market signals 2024
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Ftse Mib Italian stock market forecasts April 2024

Ftse Mib Italian stock market forecasts trend and signs of financial speculation in the short and long term through WD Gann economic cycles.

Italian stock market chart with analytical framework in weekly time frame

Ftse Mib Italian stock market forecast 2024
Ftse Mib index weekly 19.03.24

Ftse Mib Italian stock market forecast in the short term

Since the September 30, 2022 Weekly Set Up, the Italian Stock Exchange has restarted a new bullish phase that persists to this day.

From the 1X8 and 1X16 corner supports radiated in blue color visible on the slide above, the Italian Index at the end of last year finally broke out of the 24,000-point area.

That area had formed the upper level of the Mib’s trading range for a decade.

Although that area had already been broken in the early days of 2022, the subsequent corrective dynamics from January 22, 2022 until the September 30 Set Up had brought the Italian market’s quotations back inside the sideways corridor.

The three time cycles that expired exactly the week of March 24, 2023, June 02, 2023, and October 27, 2023 generated a triple ascending low, which highlight the propulsive force present in the market.

In particular since the last low on Oct. 27, the Italian stock market from a high of 27,080, reached the octave static resistance at 30,100 points, to generate just after a slight sideways phase.

The short trading range lasted until the expiration of the January 26, 2024 Low Square.

In fact in early February the Mib accelerated the bullish run reaching the next Quadrat of Minimum of March 01 at 32,794 on the new static resistance.

On this occasion, too, the trend confirmed the short-term positivity:

the new positive acceleration has taken quotations the static resistance and to project quotations to the next octave resistances in the 33,860 area.

The next weekly cyclical expirations coincide with the weeks of April 05 and April 17, 2024.

At this time juncture we may observe important changes in the Mib’s short-term dynamics.

The next obstacles and price-time targets of the Italian market are in the area of 34,500; 35,300.

Supports are in the area of 33,300; 32,800.

Mib 30 stock market medium-term trend

Mib 30 stock market forecast today
Ftse Mib index monthly 19.03.24

The purple ascending vectors visible in the picture just above represent the price-time ratio relative to the Zero 1X4 angles.

These angles provided important support and resistance levels for the medium-term dynamics.

In particular, the intersection of the descending and ascending angles in September 2022 provided an important monthly Set Up for the resumption of the bullish trend.

Static octave resistances, visible as horizontal lines, have reversed or slowed on several occasions the progressive strength of the Mib, which nevertheless remains very robust.

The next monthly Set Up Square Minimum will expire in May 2024.

At that time we may see a major shift in the dynamics of the monthly trend.

Next targets are in the area 35,290; 35,950.

Supports in the area 32,120.

Mib Italian stock market technical analysis in quarterly time frame

Mib Italian stock exchange trading signals
Ftse Mib quarterly index 19.03.24

The third quarter of 2023 was very important for the long-term trend, as the Italian stock market managed to break upward the 1X4 descending angular resistances.

In fact, in the first quarter of 2022 the Mib’s bullish attempt had been rejected by these very price-time ratios, along with static resistances.

Precisely in the past two quarters of 2024, Ftse Mib prices have broken free from these resistances to head for new obstacles in the 35,750 area; 37,800 points.

The report on the Italian stock market was prepared using the Gann technique and the Stock Exchange Top Trader(c) software.

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