IBEX 35 Futures Forecast December 24, 2012, Technical Analysis

The IBEX 35 futures rose during the session on Friday after bouncing off of the €8200 level again. This level was once a significant resistance, and as such should be supportive going forward. Because of this, we actually like this market for the first time in ages, and are willing to buy it right here. Looking at this market, it does appear that we are ready to break out and go as high as €8900, because of this we think that this will be a market that does quite well in the year 2013, and we are willing to buy the dips going forward.