MIB Futures Forecast December 24, 2012, Technical Analysis

The MIB Index rose during the Friday session as the bullishness in Italy continues. The market looks like it’s ready to continue breakout, as do most European indices at the moment. The 16,200 level is acting as support currently, after being resistance previously.

Italy is a great place to put your money at for the moment, as the fears in Europe continue to subside. It’s a large liquid market, as the European debt issues continue to calm. It looks as if this market wants to go as high as 18,000 over the course of the next year, and as such we are willing to buy pullbacks that show any signs of support at all.