The Ibex as you can see gapped a little bit higher during the session on Tuesday, and then continued to climb from there. We stopped at the 10,400 level,
The Ibex as you can see gapped a little bit higher during the session on Tuesday, and then continued to climb from there. We stopped at the 10,400 level, but it does appear that the market is fighting the bearish pressure that we had seen the previous session. Because of this, we believe that this market is going to continue going higher and a move above the 10,500 level is in fact a barrier that if crossed, would be a very bullish sign. With that, we are buyers above there, and would also think of pullbacks that produce supportive candles as possible buying opportunities.
Ibex Forecast October 29, 2014, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
