Monday, July 5, 2010

IBEX - Daily Market Thought 05072010

This is the worse index that i follow. This year with close last monday losing  22%.
Bullish divergence last low 8500 area, but ibex unable to regain 10200 again.
Natural pullback last session important now hold above 9200 and most important above 8500.
Close daily below 9200 expect  8500 area again and a close below 8500 expect more damage with a primary target 8000 area.
If hold first suport area around 9200 close above 9800 will give some momentum to attack 10200 again.
Close daily below 10200 change trend short-term and open the door to test 10600 area.
Rsi try to hold trendline, breakout will give us another bearish signal.
To see more thoughts indexes  and here to see more thoughts forex

Click to zoom in. Good luck folks.


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