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The Ibex closes just in the resistance: the key is in the highs of April



Despite the increases in recent days, we are still the European index, among the big ones, weaker and with a lot of difference.

Technical analysis

Short term

Medium term

Long term

It seems that this may be the good one, although the ideal for further confirmation of the movement is that the overcoming of resistance occurs in weekly candles. The sensations are not bad, because the Ibex is 'sticking its head' above the short-term bearish guideline, the one that joins the declining maximums of the last two months. And as a support area to respect at all times we have 6,420 points: the lows of the last two months. Although the most important resistance at the moment is at the highs of April in the 7,210 points. Only above this level will we have confirmation of the start of a new bullish section, as a rebound, which can lead us to the area of ​​the 8,000 points (50% adjustment / recoil of all previous fall).

Finally, the Ibex (+ 2.15%) closes just at the resistance and does it to the penny. It is important that we close clearly above, even more reason to see if we are able to close in weekly candles above 7,210 points, the April highs, which is where the most important resistance is at the moment. It is not going to be that from here we turn again to the downside.

Ibex 35 daily chart

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