Ibex forecast for the week of November 2, 2015, Technical Analysis

The Ibex fell during the course of the week, testing the €10,300 level. With that being the case, we also have to keep in mind that the 10,000 level below has been massively supportive, and as a result we would anticipate that the buyers should return to this market sooner or later. We are waiting to see some type of bounce or supportive candle in order to start going long as we believe the Ibex will reach towards the €11,000 given enough time. We have no interest in selling, we believe it’s far too well supported below.