Ibex Index: looking to go long again here for 800 points upside
Updated
IBEX Index: IBEX 35 Update
After getting long on the break above 10470 we got stopped out at 10525 for a small 55 point profit...
Now this index has come back down to the breakout zone once more for what should be one last kiss
before the rally recommences.
It should find support between current values at 10362 and about 55 points lower, at 10310 at
lowest... (same amount as recent win on this index) off the upper parallel.
So am looking to go long again from the 10362-10310 range with a stop just under 10300,
looking for a move back up to the highs at 11168 (about 800 points) between now and early
spring 2018. So about 60 points downside risk and 800 points upside if it works out...
Note
Low at 10296, so stop just under 10300 should be good, as above. Am keeping mine at 11 points under 10300 after getting long at 10332 - so a 43 point loss if wrong (slightly less than 55 points profit on last long trade here) and up to 800 points if right...time will tell, as always.
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