At times such as this, as traders we shouldn’t be looking for reason why is the market reacting this way. Let no one fool you the only reason behind this rollercoaster rally is that the market is full of speculation and traders are seeking direction with close stop loss on their positions.
Ibex-35 has no reason to be where it is with no less than a year ahead of us with high social restrictions and a country which is highly dependent on foreign money.
No investor should seek long positions on it.
POSITION IS A SHORT
INSTRUMENT IBEX-35 FUTURE CONTRACT CFD
ENTRY RATE €7,941
POSITION VOLUME 10 LOTS = 1,000 UNITS
POSITION MARKET VALUE = €7,941,000
MARGIN REQUIREMENT 1% FROM POSITION VALUE = €79,410
FREE MARGIN TO HOLD POSITION 1% FROM POSITION VALUE = €79,410
TAKE PROFIT €6,900
SPREAD 1041 POINTS
EST PROFIT €1,041,000