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
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.
