I rise with shortness of breath. Better run away now?

The first week of August ended with a bearish session for the European stock exchanges which all lost ground.

The London market defended itself better than the others, with the Ftse100 down 0.11%, while the Cac40 and the Dax moved hand in hand, losing 0.63% and 0.65% respectively.

Ftse Mib down before the weekend, but the weekly balance is positive

Piazza Affari is also in red, where the Ftse Mib stopped at 22,586.88 points with a drop of 0.26%, after scoring a top of 22,732 and a bottom of 22,732 points in the intraday.

However, the weekly balance is preceded by the plus sign, given that in the last five sessions the blue chip index has risen by 0.1% compared to the close of the previous Friday.

The Ftse Mib at the start of the eighth has tried to lengthen the pace, reaching the threshold of 22,800 points, already put under pressure on 20 and 8 July last.

Once again, however, the index was rejected by this obstacle which tried to attack again on Thursday, but without success, given the return pco under the 22,600 area.

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Ftse Mib: tough obstacle in the 22,800 area. What scenarios now?

As mentioned above, the area of ​​22,800 has already been tested on four occasions in the last month and in fact confirms the key threshold with which the Ftse Mib will now have to measure itself.

In fact, the short-term evolution will depend on whether or not this level is held, with the possibility of witnessing movements with an amplitude greater than a thousand points, both upwards and downwards.

In case of victory over the obstacle of 22,800 points, the Ftse Mib can immediately extend towards 23,000 points, with subsequent landing at 23,500 points, an intermediate threshold before a bullish extension towards 24,000 / 24,100 points.

The opposite scenario, on the other hand, foresees a holding of 22,800 points, an event that will open the door to a retreat towards 22,150 / 22,100 points first and in the area of ​​22,000 afterwards.

With the abandonment of this threshold, the Ftse Mib will drop again towards 21,800 / 21,700 points before and 21,500 points later, with subsequent projections at 21,000 and 20,700 points.

Ftse Eb pulled: correction in sight?

To worry a bit ‘is the failure to violate the 22,800 points which at the moment is confirmed as a hard obstacle to overcome.

If this does not happen at the beginning of next week, then the risk of a folding of the Ftse Mib, even fast, will be high.

The market is a bit tight and could easily give way to sales, remembering that the next week will be a semi-holiday week in view of the Ferragosto which usually keeps several operators away from the market.

Macro data and US and EU events

No major updates are expected on the US macro front for the first session next week.
On the corporate side, on the other hand, after the close of Wall Street, the quarterly report of AIG should be noted with an eps expected at 1.1 dollars.

Also in Europe, no noteworthy updates on the macroeconomic side are not on the agenda.

The titles to follow at Piazza Affari

In Piazza Affari to follow AbitareIN which will lift the veil on the accounts of the first nine months of the financial year 2021-2022, while GeneralFinance on the numbers of the first half of this year.

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About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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