ProjectSyndicate
Short

SP35/IBEX: BEAR flagging 30%+ correction(SL/TP)(SWING)

CURRENCYCOM:SP35   IBEX 35
Why get subbed to to me on Tradingview?

-TOP author on TradingView
-15+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-TD9 counts / combo review
-Key S/R levels
-No junk on my charts
-Frequent updates
-Covering FX/crypto/US stocks
-24/7 uptime so constant updates

SP35/IBEX: BEAR flagging 30%+ correction(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.


🔸 Summary and potential trade setup
::: IBEX/ SP35 chart review and outlook
::: bear flagging on 4days/candle chart
::: 8300/8350 massive gap fill pending
::: GAP is getting filled and then we are getting
::: a 30% correction in Q3/Q4 2020
::: up to 30% correction next 6/9 months
::: short-term likely more upside though
::: currently trading at 7 000
::: so next 4-12 weeks may pop higher
::: HEAVY RESISTANCE: 8300/8350
::: Recommended strategy: SHORT IT 8300/8350
::: SL 5% TP1 20% TP2 +30%
::: SWING trade setup for patient traders
::: do not expect fast/overnight gains
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment short-term: BULLS
::: Sentiment outlook mid-term: BEARS/REVERSAL
Comment: Spain's IBEX 35 Index futures have slumped 11% in 9 trading sessions "as fears of new lockdowns coupled with weaker than expected macro data soured investors' sentiment," said Reuters' Stefano Rebaudo.
Comment: Spain reported 1,525 new COVID-19 cases on Friday, making it the most significant increase in cases since June, which was around the time national lockdown was lifted. Countries in Europe are now advising citizens against travel to Spain.
Comment: Spain's GDP, like Germany and France, reported last week some of the biggest crashes ever for the second quarter. The eurozone economy contracted by 12.1% in 2Q YoY.
Comment: Depressing data in the eurozone, more importantly, Spain, highlights the collapse in the travel and tourism industry, fading any hopes a quick rebound will be seen.
Comment: The virus is re-emerging across the world, maybe the souring of investors' mood in Spanish stocks is a precursor to a much broader sell-off.
MT4/MT5 SCANNER FX/CRYPTO/US SIGNALS SL/TP
https://THESYNDICATE.LIVE
BEFORE/AFTER ANALYSIS
https://THEPROJECTSYNDICATE.BLOGSPOT.COM/
CHANNEL TA/SIGNALS SL/TP
https://T.ME/THESYNDICATE001
DETAILED SCANNER RESULTS
https://TWITTER.COM/PRSYNDICATE001

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out