The IBEX as you can see fell rather hard during the course of the week, but found enough support at the €10,400 level to bounce and show signs of buying
The IBEX as you can see fell rather hard during the course of the week, but found enough support at the €10,400 level to bounce and show signs of buying pressure. With that, the market looks as if it’s ready to perhaps find buying opportunities in this general vicinity, but the real support is down at the €10,000 level. Because of this, we are on the sidelines and trying to use patience in order to wait for the right supportive candle. We do not have any interest in shorting this market until we are well below the €10,000 handle.
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.
