The Ibex as you can see had a very negative week, breaking below the €10,300 support level. With this, the market should then head down to the €10,000
The Ibex as you can see had a very negative week, breaking below the €10,300 support level. With this, the market should then head down to the €10,000 level, and possibly even as low as the €9700 level. After all, the Ibex will be very susceptible to the overall malaise that we see in the European Union at this moment. We have no interest in buying this market until we see stability in places such as Germany, France, and other well developed European Union nations. With this, we think that the market will continue to go lower, but it’s probably best traded on a short-term chart.
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.
