The IBEX broke higher during the course of the session on Tuesday, clearing the €10,000 level. Because of this, we feel that the market should continue to
The IBEX broke higher during the course of the session on Tuesday, clearing the €10,000 level. Because of this, we feel that the market should continue to go much higher, and as a result we are buyers on pullbacks going forward. That being the case, the market should then head towards the €11,000 level over the longer term, as the IBEX continues to show signs of bottoming in this general vicinity as the market had been sold off far too drastically. Because of this, we look at pullbacks as potential buying opportunities as well, when we get supportive candles.
IBEX Forecast October 22, 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.
