Key short-term resistance is at 8,322 points
0.99% falls in the last session of the IBEX 35. The Ibex 35 ends the year with falls of 15.45% and that in the last two months the Spanish index has revalued close to 30%. In the middle of last November the selective managed to climb above the average of 200 sessions. After exceeding the key level of 8,000 points we are seeing a consolidation of levels. The correction to the upward momentum at the beginning of November has not reached the 38.2% Fibonacci retracement, which is undoubtedly a show of force that invites us to think about a next attack at the key level it presents at 8,322 points. Exceeding this price level seems likely in the early stages of 2021, which would undoubtedly be what would trigger an extension of the gains to the 8,600 or even 9,000 point level. The support that we will not lose sight of is at 7,663 points, the minimum of December 21. Beware that the abandonment of this price level would complicate its short-term technical prospects.
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