Look for any buy set ups since we are looking for upside in the IBEX 35. Check my past analysis to understand the general structure. I predicted the last uptrend impulse.
Busquen cualquier oportunidad de compra ya que buscamos recorrido alcista en IBEX 35. Chequead mis anteriores análisis para entender la estructura general. Predije el...
10,000 is a support zone:
- Broken trend line (resistance should turn to support)
- 50 MA line
- Psychological level
10,500 is resistance
Bullish scenario - IBEX will climb to 11,000 if it will hold above 10,000 and break above 10,500
Bearish - In case that 10,000 will break, IBEX will slide back into its downtrend zone and continue towards 9000
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After entering in January '17 @9304 and later adding on quarter of a position @10181 in September i have setup some more add on levels for the case that wave 4 reaches down further before ending.
Adding on @9856 for half a position, @9546 for full a position.
Soft target 1 is around 11200 with next targets looking towards 12800.
This is my analysis on IBEX35.
I think we are already going up for a new cycle, actually we are going for the third wave in it!
I studied the possibility of a longer correction but the shape of the chart does not match with any of the most important complex patterns for corrective moves, so I got to this conclusion.
We are looking now on smaller...