The IBEX 35 futures rose during the session again on Monday as the market still looks very healthy in Spain. The fact that we have gone over the €8200
The IBEX 35 futures rose during the session again on Monday as the market still looks very healthy in Spain. The fact that we have gone over the €8200 level and stayed there for a couple of sessions now suggests to us that we will continue much higher.
This is mainly predicated upon the idea that the European Central Bank has stepped up and offered to back the Spanish debt markets. With that potential monetization of debt, we could see a flight into equities all over Europe, with Spain being especially attractive now. Because of this, we buy this market only, and will do so on a break of the highs from the Monday session.
IBEX 35 Futures Forecast December 26, 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.
