Ibex Forecast November 11, 2015, Technical Analysis

The Ibex initially fell during the course of the session on Tuesday, but found enough support near the €10,250 level to turn things back around and form a bit of a hammer. The hammer of course is a bullish sign, and as a result we believe that a break above the top of the hammer should send this market back towards the €10,600 level. Ultimately, we do believe that this market continues to go higher, but it is going to be more of a grind than anything else. With that, you will have to be patient to collector profits.