Ibex Forecast November 13, 2015, Technical Analysis
The Ibex fell during the day on Thursday as European indices all struggled. However, we still see quite a bit of support at the €10,000 level below to keep this market afloat. We are waiting to see whether or not we get some type of supportive candle in order to start buying again. If we do, we believe the market will reach back towards the €10,500 handle. That area should cause quite a bit of resistance, but eventually we will break out and to the upside afterwards. Once we do, becomes a bit of a longer-term buy-and-hold situation.