The IBEX as you can see gapped lower at the open on Wednesday, and then turned back around to attempt to break out to the upside but failed. The resulting
The IBEX as you can see gapped lower at the open on Wednesday, and then turned back around to attempt to break out to the upside but failed. The resulting action ended up forming a shooting star, and that of course is a negative sign. That negative sign suggests that we will continue to drop from here, and quite frankly we feel that the real support is probably closer to the €10,000 level. That being said, we believe that the market probably will drifting lower but recognize that you will have to be very cognizant of the fact that we are getting close to a fairly strong buying opportunity.
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.
