IBEX - Spain - On cliff for a dive

FX:ESP35   IBEX 35 Index

The European QE is pending - It is largely in the media for a long while now.

I doubt equities would be trading where they are if they expected something great to come (this is speculative, i acknowledge).

IBEX is on a cliff that rejected up twice in weekly close...

The third attempt down may break the elastic this time and there is 25% free fall zone.

In any case: very pivotal supported zone that shall launch something rather soon.

My view: down.

Short 10% stop 11000... TP 8000.