FTSE MIB/ITA 40 – Resistance Holding As Support, Trade Setup In Profit | Jul 26
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ITALY 40 (ITA40) – Resistance Holding As Support, Trade Setup In Profit (4h chart)
The FTSE MIB/Italian index we covered in our member commentary last week came back to re-test the prior resistance/RRL after the with-trend breakout.
The S/R level, now acting as support held very cleanly and the pair immediately launched 400 points higher, now sitting close to the next resistance at 21650.
Congratulations to those traders and members that were able to catch this trade opportunity we talked about in our prior member commentary as you’re likely in a handsome profit at this point.
Next up is likely 21650. If this folds to the bullish pressure, 21820 & 22130 are next in line.
To the downside MT supports remain at 21150 and 20600.
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