MIB is at 61,8% retracement and should bounce up and break the downward sloping orange line if the down move is corrective. If 14180 broken decisively then things could go very badly for MIB. We remain short in this market and wait to see if the expected bounce of the major indices will affect and how much this index. The form of the decline is not my favorite for an impulsive wave down and that is why I believe this retracement is important. More updates to come soon.....
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