Well... After all this news, this index is so overbought and on critical levels of resistance, we should see this one going down sooner than later. Regards
Some TA theory says that a gap always gets filled sooner or later and another theory says that if it patial fills it's a sign to buy. Ok so lets play the short and mid term. First target is a pullback to 9950 range. Second target is around the gap at 9600. Have a nice day
Pinbar formed in a strong support and resistence zone.
yes, you can clearly see the formation of a third, beautiful as her mountain but also reached its peak and will fall for a long time.
The Spanish IBEX 35 index tested the 10,660 handle twice this week, once on Tuesday and again on Thursday. The double bottom on the monthly Tenkan can be interpreted as being bullish and makes me think that the market has completed its corrective phase initiated back in April. If European equities markets start rallying into the end of the month, the third quarter...
Looking at the weekly timeframe, i can see double roof at 11200 and several bear market candles after it. Maybe if the Trend line since Jun 2012, when the Ibex index made a floor, we can confirm the roof and change into a bear market. We´ll se what is going to happen, in the event the BCE start it´s own ¨QE¨ maybe the bullish market can hang in there and go up again.
As said, IBEX was going to go up to 10300. This should go above 10500 to a break upwards.
Following RSI, MACD, PPO, BBANDS and the support at 10000. IBEX is oversold and should rise to 10300 and test the resistance. If breaks should go to the Fib spiral level and hopefully above it. USA Stocks are very up and need to pull back before the chrismas rally.