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
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
