IBEX 35: 7452 to ideally cap further strength – Credit Suisse
|The Spanish IBEX 35 is (just) holding its 2012 low, but an eventual break is seen as likely to mark a multi-year top, analysts at Credit Suisse inform.
Key quotes
“The IBEX’s recent collapse below 7580 has completed a large top for a test and essentially hold for now at the 5905 low of 2012.”
“Strength from here though is seen as corrective and our bias is for 7452 to ideally cap further strength for a retest and then eventual clear break of 5905.”
“Above 7452 would suggest a deeper recovery can be seen towards 8000/25.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.