couple of months and has been on a constant descending pattern. It has not showing strong recovery over the last few quarters.
Ibex has to close the daily candle above 10600 to give any signal for the year. It is sitting at a major
right now and a break above that level would mean that we can now see 11,000 mark once again. But due to the strong between 10490-10600 we can see some pull back from here to the early 10,000 again. A strong sell from that
point can take the index to the lows of 9400-9700 Area which at this point looks highly unlikely but a major sell off in the equities market and strong Gold and commodity prices and crypto currencies can shift the buying towards the more performing markets. Over all I am neutral for this Index. We can take multiple trades at key levels and do some profit taking on several occasions due to the index being range bound. Holding on to the index for a long position is not recommended.