MIB Futures Forecast December 26, 2012, Technical Analysis

The MIB futures rose slightly during the session on Monday as the market still looks fairly strong in Milan. Italian equities had been going sideways for quite some time now, but we have seen a breakout above the 16,250 level which we used as a mark for buy orders. Going forward, we think that the next couple hundred points could be a little bit of struggle, but once we clear them this market should reach 17,000 without much trouble. As far as selling is concerned, we have absolutely no case scenario right now in order to do so as the last two weeks have been so bullish.