MIB Forecast August 24, 2015, Technical Analysis

The MIB as you can see gapped lower at the open on Friday, but then turned back around to fill that gap. Ultimately, we found quite a bit of resistance there, and turned everything back around to form a shooting star. With this, if we can break down below the bottom of the range for the session, we should then head towards the 21,000 level. The MIB will of course be one of the softest markets in the European Union as long as we continue to see such negative volatility overall. We have no interest in buying at this point.