Italy 40 (IT40) Struggles above Level 17000, Targets Resistance 18000
Login

Italy 40 (IT40) Struggles above Level 17000, Targets Resistance 18000

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

Key Resistance Zones: 24000, 25000, 26000
Key Support Zones: 22000, 21000, 20000

Italy 40 (ITA40) Long-term Trend: Bullish
Italy 40 is rising and in an ascending channel. Yesterday, the index fell to level 16785 and immediately resumed an upward move. The upward move was interrupted as price retracing today. The market is currently facing a new resistance at level 17539. The index is expected to resume an upward move.

ITA40 – Daily Chart

Daily Chart Indicators Reading:
Italy 40 is in an ascending channel. The 21-day SMA and 50-day SMA are sloping upward. The market has fallen to level 47 of the Relative Strength Index. It indicates that the price is in the downtrend zone and below the centerline 50.

Italy 40 (ITA40) Medium-term Trend: Bullish
On the 4- hour chart, the index is in ascending channel. The price is facing resistance at the support line as the bulls fail to break above it. The market is likely to rise if price breaks above the support line.

ITA40 – 4 Hour Chart

4-hour Chart Indicators Reading
The index is below 60% range of the daily stochastic. The market is in a bearish momentum. This is contrary to the present price action. The SMAs are also sloping upward indicating the upward move.


General Outlook for Italy 40 (ITA40)
Italy 40 has currently fallen to level 16782. The index appreciated to level 17454 but dropped down again to low above level 17000. Presently there is no direct price movement as ITA40 continues its fluctuations.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News