The IBEX 35 Index bounced around during the previous five sessions in order to form a fairly neutral looking candle. This is mainly because of the €8000
The IBEX 35 Index bounced around during the previous five sessions in order to form a fairly neutral looking candle. This is mainly because of the €8000 level, and the fact that it begins a resistance zone all the way up to the €8200 level. Looking at this chart, over the long term we could have a significant move, but we are obviously bouncing around in a relatively small consolidation area. Because of this, we think that the market will do very little over the next couple of weeks.
IBEX 35 forecast for the week of December 3, 2012, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
