IBEX Forecast October 14, 2014, Technical Analysis
The IBEX as you can see went back and forth during the day on Monday, initially gapping lower. The €10,000 level did in fact offer a bit of support, as one would anticipate. However, looking at this chart you can see that we are most certainly bearish, and a move below the €9950 level would in fact trigger more selling in our opinion. Rallies at this point time would have to be treated with suspicion, at least until we get above the €10,300 handle. Because of this, we are essentially bearish, but do recognize that there does come a point where momentum shifts back into consolidation.
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
