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Piazza Affari has reached a pivotal threshold and now a new important scenario is opening up

The European stock exchanges closed the week with not particularly significant but significant increases. Like yesterday, even today, the Milanese list was one of the best. The Milan stock exchange seems to have found its way back up.

Piazza Affari has reached a pivotal threshold and now a new important scenario is opening up. Let’s analyze the significant elements of today’s session thanks to the Bag Projections Experts.

For the blue chip index, 22,200 is a threshold to monitor

The last session of the week in Piazza Affari ends uphill. The Italian stock exchange today prepared the ground for a new leap. At the end of the session, the blue chip index, the Ftse Mib (INDEX:FTSEMIB), closed up 0.8% at 22,178 points.

As we had anticipated in the article that precedes the opening of the equity markets, the prices of the major index have reached the threshold of 22,200 points. Piazza Affari has reached a pivotal threshold and now a new important scenario is opening up.

It was a positive session, beyond the result. Both because it arrives on the last day of the week, generally not conducive to purchases. Both because even today the Milan Stock Exchange is confirmed if not the best in Europe, however among the best. Only the London Stock Exchange, which continues to grind bullish sessions, and that of Madrid did better.

The energy on the launch pad ready to go

Banks and, above all, the energy sector favored the sprint of the Milanese list. The banks have recovered some ground. In particular, Unicredit which gained 1.3%, returning above the threshold of 8 euros.

But it is the energy sector that has given wings. Tenaris rose by 4%, Eni by 3.4% and Saipem by 3.1%. These were the top three blue chip stocks, along with Leonardo, who gained 3.3%.

Tenaris has been in a bullish sprint since November. In a month, prices have gained over 80% and today they closed just a step away from the 7 euro threshold. They are close to the high of June, but still far from the highs of the year around 10.5 euros, reached at the beginning of 2020.

Next week the violation of the 7 euros will bring the action to the first target of 7.3 euros. On the downside, only a return below € 6.38 will be viewed negatively.

Deepening

This the multidays analysis and the analysis of international markets by the ProiezionidiBorsa Research Department.

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