The Ibex initially fell during the course of the day on Monday, but found enough support near the €11,150 level to turn things back around and form a bit
The Ibex initially fell during the course of the day on Monday, but found enough support near the €11,150 level to turn things back around and form a bit of a hammer as we closed towards the top of the session range. If we can break above the €11,350 level, we feel that this market will then go to the €11,550 level. Pullbacks at this point in time will be short-term pullbacks and nothing more. We believe eventually the market will break out, but we may need to grind sideways for a little bit before we can take off to the upside.
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.
