Ibex Forecast August 6, 2015, Technical Analysis
The Ibex as you can see had a slightly positive session on Wednesday, bouncing off of the €11,200 handle. This market is presently consolidating though, so having said that we are not interested in trading at the moment. We do recognize that eventually this market should continue to go higher, and as a result we would only be buyers on a move higher. There no interest in selling this market at all, as we believe that the €11,000 level below would be massively supportive. If we do break to the upside, we feel that the 11,600 level will be targeted over the course of the next several sessions.