IBEX 35 Forecast October 29, 2012, Technical Analysis

The IBEX rose slightly during the session on Friday in order to substantiate the 7700 level as a minor support zone. Currently, we see the 7600 level as being much more substantial, and as such we think that we could bump along the bottom here for the short-term. We deftly think that for the next couple of days we probably have more support than resistance, so buying is a possibility. However, Spain is the epicenter of all things bad in Europe, and as such this is one of her least favorite markets to play until we get some type of decisions about the debt issues.

 

IBEX 35 Forecast October 29, 2012, Technical Analysis
IBEX 35 Forecast October 29, 2012, Technical Analysis

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