The IBEX rose during the course of the day on Tuesday, showing the €10,700 level to be supportive. With that, we feel that the market should continue to
The IBEX rose during the course of the day on Tuesday, showing the €10,700 level to be supportive. With that, we feel that the market should continue to go higher, but we recognize that there is a significant amount of resistance just above. We believe that ultimately this market will go to the €11,150 handle, where we saw significant resistance previously. Because of this, we are bullish but recognize that the market may need to grind sideways first before breaking out. We have no interest in selling this market, as it does look well supported just below.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
