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SHORT trading signal FTSE MIB index - FTSEMIB

Share Indices Signals and Analysis

Good Morning Traders,

Today, September 1, we signal an entry on the SHORT signal detected by Lift-Off on the main Italian index, the FTSE MIB, formed with the August 31 candle.

In closing the day that makes a -1.22% decline, closing at EUR 21559, losing 265 points during the session and causing Lift-Off's red band to turn back on.

The market, yesterday, after inflation data in Europe that continues to rise and stands at 9.1% above expectations, reinforces the idea of a sharp rise in interest rates and increases concern in a reduction in employment.

Below chart of the FTSE MIB - with the signal detected by Lift-Off

Below the chart with the take profit level (the period lows), which proves to be very important for the Italian market, price area that has reacted from support and resistance in the past years.

From the chart below, we note that we have an 85% probability that our signal will produce a profit within 10 days of opening the trade

The news that caused the FTSE MIB to fall

" [...] The market ponders a mixed set of macro data from an interest rate perspective, although the preponderant expectation remains for an aggressive stance from central banks.

While eurozone inflation data, up in August at 9.1 percent, above expectations, cement the case for further sharp rate hikes by the ECB--Goldman Sachs (NYSE:GS) sees a 75bp hike at next week's meeting--signals of cooling U.S. employment are welcomed by investors as they may ease pressure on the Fed.

In particular, the monthly ADP report on U.S. private-sector employment, traditional forerunners of the government's nonfarm payrolls statistic on Friday's agenda and important in Fed terms, showed lower-than-expected growth. [...]"

Source: investing.com

Signal Chart September 01, 2022

SHORT- FTSE MIB

Input Price: EUR 21559 
Stop Loss: EUR 22300
Take Profit: EUR 20555

R/R: 1.36