The IBEX fell during the week as you can see, but at the end of the day really didn't lose much as we closed out the market just above the €9800 level.
The IBEX fell during the week as you can see, but at the end of the day really didn’t lose much as we closed out the market just above the €9800 level. With the help of the bullishness of we seen recently, we think that this market will eventually go higher, but a pullback might be needed as it has been fairly parabolic move lately. We see support all the way down the €8000, and as a result we do not sell this market we simply wait for some type of supportive candle in order to go long.
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.
