Italian stock market today Mib index forecasts and trading signals 2024

trading signals Italian stock exchange

Italian stock market today forecasts Ftse Mib

Italian stock market today Mib Index forecasts with technical analysis and operational trading signals in the short and long term using WD Gann economic cycles.

Ftse Mib chart with weekly study

Italian stock market today forecasts with Gann's technique
Ftse Mib weekly 17.06.24

Italian stock market today: weekly forecast and analysis

Since the expiration of the September 30 and October 14, 2022 weekly set ups, the Italian stock market has begun to generate robust positive weekly returns, leading prices to break out of the upper sideways area at 25,730 points.

In fact, the Italian market has had a positive/negative sideways dynamic for about ten years on a band between 14,300 and 25,700 points.

Although in the first bullish action, between March 20, 2020, and January 07, 2022, the upper level of the sideways area was broken to the upside, only with the second upward movement that started on October 14, 2022, was there a clear separation.

The various weekly Stock Signals listed in past analyses indicated the various turning points in the weekly uptrend phase.

In particular, the triple weekly low of March 17, June 02, and October 27, 2023 coinciding with cyclical time expirations laid the foundation for a major positive momentum.

Since the weekly set up on October 27, 2023, Ftse Mib prices from the ascending 1X4 angular support plotted in purple at 27,078 have accelerated the uptrend:

at the expiration of the Minimum Square on May 17, the Italian Index reached 35,474.

This level coincides with an octave static resistance.

By reaching 34,590, the Ftse Mib negated the May 17 Stock Signal, generating a negative sideways phase, which was accentuated by the subsequent Square Minimum Signal expiring June 14, 2024.

The correction brought quotations to the 1X3 angular support plotted in green, at 32,474 points.

Further supports in the 32,150 area; 31,750.

Only a return above 34,670 will indicate the emergence of a new propulsive short-term phase: resistances 34,140; 34,900 points.

Mib 30 today medium-term technical trend

Mib 30 today short-term technical analysis
Ftse Mib monthly 17.06.24

With the bullish breakout of the November-December 2023 Monthly Set Up, the Italian stock market accelerated the bullish trend, which had had a brief pause in the past September-October period.

Quotes reached a top at 35,474 at the expiration of the May 2024 Minimum Square.

With the bearish breach of the May low in June, the Italian market resulted in a new phase of negative laterality that may have as further supports area of 31,060.

The next stock market signal in the medium term to be considered will expire in July 2024.

The return of prices above 35,000 points will indicate a return to medium-term bullish action for the Italian Index.

Early targets 35,300 points; 37,260.

While continuation below the June low will indicate continuity to corrective action that will push the Italian stock market into the support area of 31,270.

The Italian market is very dependent on the trend of overseas markets.

We recommend reading the analysis of the S&P500.

In fact, it is worth noting the correlation of the Vix (options implied volatility) with the standard deviation, historical volatility.

This relationship is reversing, a prelude to an approach for S&P500 to a relevant top by 2024.

Mib index long-term trend

Ftse Mib index tomorrow
Ftse Mib quarterly 17.06.24

The long-term trend still remains bullish despite the dramatic retracement in the second quarter of 2024.

The Italian market generated strong positive returns which pushed prices onto the 1X8 angular resistances descending into the 35,470 point area.

The next quarter of September 2024 coincides with a Square Minimum.

It will be in this period that we could understand if there will be a further progressive movement that will lead the Mib to test the subsequent resistances in the 37,750 area, or if there will be a halt to the upward trend.

Next supports in the 31,600 area.

The report on the Italian stock exchange was drawn up using the WD Gann technique and with the use of the Top Trader(c) stock market software.

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