Ibex Forecast October 29, 2015, Technical Analysis

The Ibex rose during the course of the session on Wednesday, as the €10,300 level offered enough support to make the market bounce. With this being the case, the market looks as if it is ready to go back and forth, as we continue to consolidate just below the shooting star from a few sessions back. With this, if we can break above the top of the shooting star which is at the €10,600 level, we believe that the market will shoot much higher, with its first target being the €11,000 level above.