The General Index paradoxically managed to finally secure the level of 910 points, which is the last bastion before the buyers’ move to 950 points.
In fact, this level was tested once again at the opening of the session, where there was a mood for liquidation that gradually led the Index to negative ground – intra-conference.
In any case, the technical point of the 910 was broken, but we maintain three assumptions:
the first has to do with the fact of the criticality of the level due to, among other things, the intra-conference refusal of the buyers to exceed it˙
the second concerns trading volumes, which, although increased on Friday (€ 128 million), are more related to the change in the FTSE indices and the end of the September series on the Derivatives Exchange and less to day-to-day trading.
the third concerns the opposite direction in which international indicators are moving, which stubbornly refuse to continue their records.
For the future, patience is needed, because the long-awaited break of 910 points was accompanied by a negative climate in international markets, which clearly works negatively.
The support in the positive momentum that has already been created is 899, the loss of which will lead to pressures down to 865.
The stop at the buying positions is limited below 890 at the end of the day.