Ibex Forecast October 30, 2015, Technical Analysis

The Ibex fell initially during the day on Thursday, testing the €10,300 level. With that, it looks as if the market is trying to find support, as we have seen several times in this region. Below there, the €10,000 level is essentially the “floor” in this market, and as a result we are looking for supportive candles between here and there in order to start buying. We think that once we get above the €10,800 level, which of course was the top of the shooting star, the market is then free to go much higher. We have noticed whatsoever in selling this market.