The IBEX fell hard during the course of the week, testing the €10,150 level. The €10,000 level below there is massively supportive, and if we can break
The IBEX fell hard during the course of the week, testing the €10,150 level. The €10,000 level below there is massively supportive, and if we can break below that we feel that the IBEX will continue to drop from here. At that point time, we would anticipate a move to the €9200 level, which is rather supportive. If we get below that area, we feel that this market would continue to go much lower, probably heading down towards the €8800 level. At this point in time, we have no interest in buying this market as it seems to be very soft.
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.
