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Wednesday, August 8, 2012

Spain's IBEX 35 index bang on support & bounce

On 17th May in the comment box we expected the Spain Ibex 35 index to take support in the region of 6000/5870 where on 4th June it made low of around 5987.8 & bounced back to 7200 on 3rd July, again on 23rd july it made low of around 5905.30 & bounced back to 7200 on 7th August. On both the occasion it took the much needed support around the mentioned level. 
Earlier 6935 was acting as strong support for it and below that we gave the support level of 6000/5870 and resistance of 6936/6940.
Only Money Mystery did it.

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