The Ibex as you can see fell during most of the session on Friday, but turned back around at the €11,050 level. By doing so, we did up forming a hammer
The Ibex as you can see fell during most of the session on Friday, but turned back around at the €11,050 level. By doing so, we did up forming a hammer which of course is a very bullish sign. Ultimately, we believe that a break above the top of the hammer is a perfect opportunity to start buying the Ibex, as we should then head towards the 11,600 level. Ultimately, this is a “buy only” type of market. We believe that the 11,000 level will continue to be the “floor” in this market, and as a result there should be plenty of buyers involved.
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.
