Advertisement
Advertisement

IBEX Forecast October 3, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 24, 2015, 22:00 UTC

The IBEX as you can see fell hard on Thursday, losing over 3% for the day. We also sliced through the €10,750 level, an area that had been supportive. We

IBEX Forecast October 3, 2014, Technical Analysis

The IBEX as you can see fell hard on Thursday, losing over 3% for the day. We also sliced through the €10,750 level, an area that had been supportive. We are now below the €10,500 level, so it appears that we will probably make a run back down towards the €10,000 level given enough time. There is noise below though so any rallies at this point time should be short-term in nature, offering a selling opportunity. We don’t really have any real interest in buying this market at this moment as it looks broken.

 

IBEX Forecast October 3, 2014, Technical Analysis
IBEX Forecast October 3, 2014, Technical Analysis

About the Author

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.

Did you find this article useful?

Advertisement