The IBEX gapped higher at the open on Monday, and then went all the way towards the €10,750 level. Looking at this chart, you can see that we fell
The IBEX gapped higher at the open on Monday, and then went all the way towards the €10,750 level. Looking at this chart, you can see that we fell backwards from there, forming a shooting star. The shooting star courses on top of the gap so we think that any pullback from here will more than likely find buyers somewhere. We’re going to have to be very patient, but a supportive candle below would be reason enough for us to start buying the IBEX again. At this moment in time, we don’t have any real interest in selling, simply because the bounce back has been pretty significant.
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.
