The IBEX as you can see gapped higher at the open on Wednesday, and then fell straight back down, crashing all the way down to the €10,200 level. The
The IBEX as you can see gapped higher at the open on Wednesday, and then fell straight back down, crashing all the way down to the €10,200 level. The market looks as if it is ready to continue falling in the short-term, so we feel that short-term traders will continue to sell this market. It looks as if the 10,000 level is supportive, and as a result we are buyers on any type of supportive action in that region. A move below there has us turning very bearish on Spanish stocks. Until then, we are looking only to sell on the shortest of time frames.
IBEX Forecast October 10, 2014, Technical Analysis
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.
