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IBEX 35 Futures Forecast December 5, 2012, Technical Analysis

By:
Christopher Lewis
Updated: Aug 21, 2015, 00:00 UTC

The IBEX 35 had a mildly negative session during the Tuesday trading day, as the €8000 level continues to be far too resistive. Because of this, we expect

IBEX 35 Futures Forecast December 5, 2012, Technical Analysis

The IBEX 35 had a mildly negative session during the Tuesday trading day, as the €8000 level continues to be far too resistive. Because of this, we expect a fairly quiet market, but you should also be aware the fact that the €7800 level looks to be supportive. In other words, we will find ourselves bouncing around in a fairly tight range.

The market has been drifting lower gradually, but this latest action looks like we are trying to tighten up in figure out where to go next. This could be because of all the various financial ministers around Europe talking, and we don’t know where the debt issues will head in the short-term. Nonetheless, Spain is one of our least favorite markets right now, although it has been, much like the Euro, much more resilient than we would have anticipated. With all that being said, we are currently flat of this market and expect very low volatility.

 

IBEX 35 Futures Forecast December 5, 2012, Technical Analysis
IBEX 35 Futures Forecast December 5, 2012, Technical Analysis 

About the Author

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.

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