Ibex forecast for the week of November 16, 2015, Technical Analysis

Christopher Lewis
ibexWEEK

The Ibex fell during the course of the week as we crashed into the €10,000 level. That area of course caused a bit of support based upon the large, round, psychological significance of the number. With that being said, we believe that the buyers will enter the market sometime in the near future, but we will wait until we get a weekly candle that looks supportive in order to start buying. At this moment in time, we believe the Ibex is probably best traded on shorter-term charts, such as the daily.


 

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