The Ibex initially gapped lower at the open on Thursday, but then broke higher in order to try to continue the rally. With this, we found enough
The Ibex initially gapped lower at the open on Thursday, but then broke higher in order to try to continue the rally. With this, we found enough resistance above to turn things back around though, and form a shooting star. The shooting star of course is a very negative sign, but we think this simply a market that is looking to pullback in order to build up enough momentum. We have been consolidating for some time now, and as a result we think that the buyers are closer to the 11,150 level. Ultimately, we do think this market breaks out 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.
