IBEX35. Spanish market getting ready to pop Long

IBEX 35TVC

Description

⋅ Jan 16, 2017 2:18 PM

IBEX35, the spanish stocks index, is ready to pop but first it has to correct to a huge support zone which was a resistance for approximately year and a half.

A potential Cypher pattern is pending to be completed highlighting the end of this correction, I will wait for pattern confrmation before I enter a long position.

If everything is correct, will place a buy order at 9134 level, SL: 9090 and TP at 10300

Comment

⋅ Jan 16, 2017 2:23 PM

Larger view with important support/resistance zones highlighted

Comment

⋅ Jan 28, 2017 10:38 PM

Some more long term development

Comment

⋅ Jan 28, 2017 10:38 PM

And still expecting a drop on short term

Trade closed: target reached

⋅ Feb 10, 2017 8:28 AM

It was painful but it finally got there

Trade closed: target reached

⋅ Mar 25, 2017 3:14 PM

Long term target reached

Comments

mandingo78

⋅ Jan 17, 2017 5:37 AM

potrebbe analizzare fmib italy ? grazie

captain_smollett

⋅ Jan 26, 2017 9:48 AM

@EnzoCaluzzi, ciao! Sorry, mi italian is very-very basic =) Could you please advice a sticker and I will have a look? Thank you

mandingo78

⋅ Jan 26, 2017 11:15 AM

@captain_smollett,

captain_smollett

⋅ Jan 26, 2017 11:25 AM

@EnzoCaluzzi, I think, for next 6-8 months it is bullish. What we see now may be a Wave 1 from 5 in C

So, I would say it should now correct to 17.000 moreless and then there should be a huge bullish impulse to get to 22-24K