Spanish IBEX Index Hits Major Resistance Zone

The Spain Bolsa de Madrid IBEX 35 Index ($IBEX) hit a major resistance zone around 11000. Notice that the index has been turned back near this level since July 2010 (one year). A breakout is needed to revive the bulls here and build confidence in Europe. RSI confirms resistance as the indicator stalls in the 50-60 zone.

100706ibex


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