What are the key resistance levels for the IT40 today?

The primary resistance levels are 54.90 and 54.97, with a further breakout targeting 55.02.

Where is the support for the FTSE MIB located?

Strong support is identified at the 54.80 handle/pivot and further down at 54.61.

How did the Asia handover affect European markets?

The tightening of spreads at the London open allowed the IT40 to lean into a constructive regime, though participation requires US follow-through to sustain momentum.

IT40 Index Analysis: FTSE MIB 54.90 Resistance | FXPremiere

The IT40 (FTSE MIB) enters a constructive regime as traders navigate a transition from Asia to Europe, focusing on 54.90 resistance and sector rotation.

The IT40 (FTSE MIB) exhibited a significant regime-shift on January 22, 2026, transitioning into a constructive posture that allowed for a measured reopening of risk budgets across European trading desks. While far from euphoric, the price action suggests a tactical rotation where composition and factor bias are taking center stage over broad-based momentum.

Regime Shift: London and New York Handover

Early session liquidity during the London open provided the necessary tightening of spreads to allow price action to lean into risk. Participation broadened throughout the morning as higher beta components led the charge, while defensive sectors lagged, indicating a preference for growth-oriented positioning.

The sustainability of this move largely depends on the New York open. US participation serves as the ultimate arbiter of whether the European bid evolves into a global trend or remains a localized regional rotation. Traders are currently monitoring pullback depth as the primary risk-management metric for institutional entry.

Key Level Map and Pivot Points

The technical landscape for the IT40 is defined by clear horizontal gates. Market participants are treating the first breakout as information, while the second act serves as confirmation for trend continuation.

Immediate Support: 54.80 (Handle/Pivot) followed by 54.61.
Critical Resistance: 54.90 (Handle) and the session high of 54.97.
Invalidation Zones: Sustained trading above 55.02 or below 54.56.

Cross-Asset Context: Metals and Energy Divergence

Inter-market analysis reveals a nuanced backdrop. While the IT40 is firming, precious metals (GLD +1.82%, SLV +3.83%) continue to find buyers, suggesting that residual hedge demand remains active despite the improvement in equity sentiment. Conversely, energy served as a headwind for commodity-linked beta, with USO sliding 2.32%, a factor that may cap gains for indices with heavy resource weightings.

For more on how policy sentiment is affecting European indices, see our recent IT40 Market Analysis: FTSE MIB Slumps on Policy Risk Premium from earlier this week.

Strategic Scenario Grid

The outlook for the next 24 hours is categorized into three primary paths based on volatility and level acceptance:

Base Case (61%): The index is expected to hold its current range and grind higher, provided volatility remains offered. Success relies on holding the 54.80 pivot.
Upside Extension (20%): Price acceptance above 54.97 targets an extension toward 55.02. A quick failure back below 54.90 would invalidate this move.
Downside Reversal (19%): A break below 54.61 opens the door for a move toward 54.56. Reclaiming 54.80 would be required to neutralize the bearish bias.

Next 24 Hours: What to Watch

Traders should focus on market breadth; widening participation across the FTSE MIB components will support continuation, whereas narrowing participation increases the risk of a sharp reversal. Additionally, the behavior of global rates is critical—if duration reverses, the current high-beta leadership in the IT40 could lose its traction quickly.