We did not miss anything this week. Piazza Affari has experienced some days of lateral movement. A session in sharp decline and a subsequent day of strong rebound. The next week is decisive to understand if there is a possibility for prices to go back to the maximums of the year at 25 thousand points.
Do you want to find out now what will happen on the stock exchange next week? Here are the moves of Piazza Affari according to our analysts
Observe the Milan Stock Exchange with a careful eye on Wall Street
It has been established that Piazza Affari has two proven dependencies: one from bank stocks, which dominate the basket of the top 40 stocks and the stock exchange in general. The other from Wall Street. The prices of the Ftse Mib index (INDEX-FTSEMIB) move in correlation with those of the US Stock Exchange. It is unlikely that the American stock market will go down and Piazza Affari will go up. The reverse is more likely that the Italian list will drop and the US stock market will rise. However, most of the time the Italian stock exchange follows the trend of the US markets.
The first factor to look at next week to understand where the prices of the Milanese stock market will go is to observe the trend of the US stock exchange. And in particular of the major index, the S & P500.
What will happen on the stock exchange next week? Here are the moves of Piazza Affari
Of course, the technical setting of the Italian blue chip index also counts. If we look at a weekly chart, it is clear that from the lows of March to today, the graphic setting is bullish. If we combine the 2 medium-term relative lows of the week of March 16 and that of May 11, we obtain a bullish trendline. As can be clearly seen from the figure below, prices have always been above this line.
Figure – Weekly price trend of the Ftse Mib index
It is also evident from the graph that prices are increasingly compressed close to what is considered an area of resistance. The price zone that goes from 20 thousand to 20.400 points. Without a weekly close above this level the Ftse Mib index will not be able to rise again.
On the other hand, a closing of the week under the trend line drawn above becomes dangerous. Ideally share 19 thousand points
In the last session of the week, the prices of the Milan stock exchange gave an important signal. What happened on the stock exchange on Friday? Find out by reading this article.
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