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.
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.
