The Ibex as you can see fell initially during the course of the week, slamming into the €9500 level. However, we found enough support to turn things back
The Ibex as you can see fell initially during the course of the week, slamming into the €9500 level. However, we found enough support to turn things back around and rise well above the €10,000 level. The candle looks like a massive hammer, and as a result we believe that the buyers have stepped back into this marketplace in order to pushes market much higher. Ultimately, we believe that we will reach towards the top of the consolidation area and aim for €11,500 given enough time as we have visited the area several times.
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.
