The FTSE MIB closed at 49,291 (-0.82%) on the day, reflecting a modest pullback amid a day range of 49,245 to 49,899. The decline indicates a potential consolidation phase after recent gains, as the index approaches its 52-week high of 49,697, suggesting some profit-taking by investors.

From a technical perspective, the index remains in a bullish posture, trading above both the 20-day simple moving average (SMA) of 48,097 and the 50-day SMA of 46,163. The relative strength index (RSI) at 59.3 indicates that the market is in neutral territory, allowing for further upside without entering overbought conditions.

Looking ahead, key levels to watch include the immediate support around 49,245 and resistance near the 52-week high of 49,697. A sustained move above this resistance could signal further bullish momentum, while a drop below the 20-day SMA would necessitate caution.