ITALY FTSE MIBTEL INDEX (.MIBTEL)

/0 Comments/in /by

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart, Italy FTSE MIBTEL Index is from the review section of the weekly report. It is featuring a possible H&S continuation setup that is ready for breakout after several tests of pattern boundary.

ITALY FTSE MIBTEL INDEX (.FTMIB)

One of the better looking European equity benchmark after Germany’s DAX index is Italy’s FTSE MIBTEL. The benchmark is possibly forming an 8 month-long H&S continuation chart pattern with the neckline at 35,150 levels. The 200-day (40 week) average has been an important support since the beginning of 2023. The right shoulder of a possible H&S continuation stabilized above the year-long average. Breakout above 35,150 levels can push the index towards the target at 39,700 levels. Failure to remain above the 200-day average can result in H&S continuation negation and target the long-term trend line support around 29K.

H&S pattern can form as a continuation. I’ve written a detailed post on the differences and similarities between H&S top/bottom and the continuation type. You can find the interactive blog post here. You can learn and test your knowledge by identifying the patterns with instant feedback.

Tech Charts Membership

By becoming a Premium Member, you’ll be able to improve your knowledge of the principles of classical charting.

With this knowledge, you can merge them with your investing system. In fact, some investors use my analyses to modify their existing style to invest more efficiently and successfully.

Get Access Now

As a Premium Member of Aksel Kibar’s Tech Charts,

You will receive:

  • Global Equities Report. Delivered weekly.
  • Classical charting principles. Learn patterns and setups.
  • Actionable information. Worldwide indices and stocks of interest.
  • Risk management advice. The important trading points of each chart.
  • Information on breakout opportunities. Identify the ones you want to take action on.
  • Video tutorials. How patterns form and why they succeed or fail.
  • Watch list alerts. As they become available so you can act quickly.
  • Breakout alerts. Usually once a week.
  • Access to everything (now and as it becomes available)
    o Reports
    o Videos and video series
  • Multi-part webinar course. You learn the 8 most common charting principles.
  • Webinars. Actionable and timely advice on breaking out chart patterns.

For your convenience your membership auto renews each year.

Get Access Now