Ibex Forecast November 2, 2015, Technical Analysis

The Ibex fell slightly during the course of the session on Friday, testing the €10,300 level. However, there is a significant amount of support all the way down to at least the €10,000 handle, so having said that we are buyers on supportive candles or impulsive moves higher. With that being the case, we are buyers only and have no interest whatsoever in selling this market. We believe that once we get above the €10,600 level, the market should continue to go much higher as it frees us from the selling pressure in the general vicinity.