The Ibex fell significantly during the course of the session on Thursday, dropping down to the €10,600 level. This is an area that should be supportive,
The Ibex fell significantly during the course of the session on Thursday, dropping down to the €10,600 level. This is an area that should be supportive, based upon the fact that there was previously a gap there. However, we break down below the €10,550 level we would be sellers as the market should then drop to the €10,350 level. Supportive candles are buying opportunities though, so we will have to wait to see how the state plays out but recognize that the Ibex is in a very precarious position at this point in time.
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.
