Ibex Forecast October 28, 2015, Technical Analysis

The Ibex fell during the day on Tuesday, slamming into the €10,300 level. By doing so, the market looks as if it is trying to find support below, which we definitely think will appear at the €10,000 level. In fact, we believe that the “floor” in this market, and therefore we are buyers on supportive candles between here and there. We have no interest in selling, we believe that ultimately the Ibex goes higher right along with the rest of the European indices as they all show a significant amount of strength at the moment.