The IBEX as you can see tried to rally during the course of the day on Wednesday, but found significant resistance at the 10,900 level. Because of this,
The IBEX as you can see tried to rally during the course of the day on Wednesday, but found significant resistance at the 10,900 level. Because of this, the market looks as if it’s probably going to continue with the bearish pressure in the short-term, because we have formed a shooting star. The shooting star of course suggests that the market isn’t going to go anywhere anytime soon, and with the now quiet markets, we are sitting on the sidelines. However, a move above the 10,900 level would have us buying. We have no interest in selling until we break down below the 10,500 level.
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.
