IBEX 35 Futures Forecast November 20, 2012, Technical Analysis

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The IBEX 35 had a positive session on Monday, as the “risk on” rally ensued around the world. Financial indices around Europe all gain, and of course Spain would have been no different area however, this market does look like it’s slowly starting to grind South, and we do think that we will eventually start to go below the €7400 level. In fact, we believe that the €7600 level is the default gateway to increased selling if we can close well below it. With this in mind, we are selling rallies as the highs keep getting lower.

 

IBEX 35 Futures Forecast November 20, 2012, Technical Analysis

IBEX 35 Futures Forecast November 20, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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