IBEX 35 | Perfect channel

FX:ESP35   IBEX 35 Index
Expect a fall to 8800-8650

Happy trading!
Hi Rovart,

Looking forward to your graph, I am wondering what determines that the prices pass the 9000 mark or fall bellow the 7600? If both trend lines cross?
Thank you in advance for your reply!
Rovart mmehbubani
Depends. If we break the bearish channel we could expect a rally up and if we break the support trendline we could expect a retest to 7600...

If you want to short on resistances and long in supports the resistance/bearish channel is stronger than the trendline, as this one comes from a longer term than the support trendline. I was short when it retested the channel and no regreets about it.

Regards and thx for comment!
+1 Reply
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