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.
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.
