The IBEX rose during the previous week, closing towards the top of the weekly range. We are clear of the €8200 level right now, and it appears that we
The IBEX rose during the previous week, closing towards the top of the weekly range. We are clear of the €8200 level right now, and it appears that we have a pathway to the €8900 level before it’s all said and done. We believe that this market will be bullish over the next several months, as money returns to Spain after the European Central Bank has offered to backstop its debt markets. Ironically, the Spanish haven’t even asked for the help yet in the markets are starting to reward them. With this being the case, we are bullish of this market and would buy a break of this week’s candle on the upside.
IBEX 35 Futures forecast for the week of December 24, 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.
