The IBEX initially gapped higher at the open on Friday, clearing the €10,550 level. However, we ended up falling back down in testing the bottom of the
The IBEX initially gapped higher at the open on Friday, clearing the €10,550 level. However, we ended up falling back down in testing the bottom of the gap, only to turn back around and form a nice-looking hammer. Because of this, if we can get above the €10,600 level we feel that this market should continue to go higher. With that, we are bullish but recognize that there is a significant amount of noise just above that could cause quite a bit of problems. Once we get above the €11,000 level though, we feel that this market will be a longer-term buy-and-hold situation.
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.
