The Spanish index had a fairly quiet session on Friday as we gained just seven Euros in order to form a very neutral candle just under the €8050 level.
The Spanish index had a fairly quiet session on Friday as we gained just seven Euros in order to form a very neutral candle just under the €8050 level. This market is choppiness a lease, and of course is the epicenter of all things bad in Europe right now. If we can get above the €8200 level, at that point time we would be willing to take a long position. However, until that happens we are very hesitant to be involved in this market. As far as selling is concerned, we could see quite a few minor support levels such as the 7900, 7800, and 7700 levels. Because of this, we are not interested in shorting at this point in time.
IBEX 35 Index Futures Forecast December 17, 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.
