Simone Lepri, an expert user of the Advanced Get software which has been popular among our readers for at least 20 years with his targeted forecasts thanks to Massimiliano Del Corona, has been collaborating with the Independent di Borsa for a few weeks.
The tools he uses are MOBs (make or break) or horizontal colored lines (the thicker they are the more important they are) and for retracements the round colored areas called Ellipse which indicate a point of possible retracement and bounce.
In this following article Simone Lepri shows the resistance and support points on the Nasdaq 100 and the Ftse MIB 40: enjoy!
Nasdaq 100
Important change of state for the Nasdaq 100, highlighted by a Break Out Bar signaled by the XTL indicator (blue candle), a momentum instrument.
This behavior suggests a clear intent of the market to aim higher, moving towards the MOB areas. The signal represents a potential prelude to a bullish movement, subject however to the overcoming of the resistance areas defined by the MOBs.
The break, even if millimetric, of the previous highs entails the invalidation of the ellipses being formed as support, since these originated from the previous high that has now been exceeded, and therefore cease to be a technical reference.
The evolution of this dynamic will be carefully monitored in the coming days to confirm the validity of the bullish signal and evaluate the strength of the market.
This morning, on the positive wave coming from the American market, our market is also trying to move away from the MOB support areas.
A clearer signal of strength will be obtained by exceeding and maintaining above the current area of 33800 points, with greater confirmation above 34000 points.
“The author of this article is not a member of the Journalists’ Association and therefore could hold the titles that are the subject of his analysis”.
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