Thursday, 1 December 2011


 MIB like the rest european markets looks strong. Revisiting and surpassing the october highs is very possible after the signal given by the central banks yesterday. However there is a big problem out there and thats why they cooperated.I believe the problem will arise soon and things are going to get ugly.....but patience is a virtue. My view for this market remains short term long.

S&P may have reached the target we stated at the start of the week, but a pullback to 1225 may be a chance to buy. Target now is 1265, but 1250 is very important resistance. Today I'm neutral in this market. I'll give it the rest of the week to unfold and then built my strategy in the weekend for next week.

Eurusd has important point 1,3260. The rise although it broke the red trend line, is not impulsive and it hasn't broken the last important high (1,3620area). Neutral to positive stance here unless 1,3260 broken.

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