Ibex Forecast November 4, 2015, Technical Analysis

The Ibex had a slightly positive session during the day on Tuesday, as we try to reach towards the €10,500 level. The €10,600 level above is resistance, so we need to get above there in order to continue going much higher. Any pullback at this point in time should be a buying opportunity as well thought of as value, as this market certainly looks like it is trying to break out. We have no interest in selling at this point in time as the €10,000 level is essentially the “floor” in this market currently.