Dear readers,
don't look at the oil prices, look at the S&P500, the world greatest financial market.
Oil prices are going down since we are going into a new recession period, and I think that even the stock markets, soon, will go down along with oil and, generally speking, with commodity prices.
S&P/MIB is probably inside a corrective movement, and it is highly probable that it will follow the fall of S&P500.
Monitor these levels:
- S&P/MIB weekly resistance at 29.350-29.450
- S&P500 support at 1366
Break of 1366 will probably lead S&P500 to a new violent down movement (third bearish wave).
As soon as possible I will update my reports.
Humanitas, Felicitas et Libertas omnibus!
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