IBEX 35 Index
Cosmic Gravity predicts that the IBEX35 Spanish market index will reverse downwards based on 4 bearish vs 1 bullish signal over 2 timeframes. Stop loss is set at the top of the 1H chart resistance.
IBEX shows an incomplete bearish sequence from 6.14.2021 high favoring further downside against 5.30.2022 high (8992.7). Short term, Index is now correcting cycle from 5.30.2022 high in 3, 7, or 11 swing before the decline resumes. Down from 5.30.2022 high, wave (W) ended at 7191.57 as the 1 hour chart below shows. Wave (X) rally is currently in progress to...
The IBEX35 index, the blue-chip benchmark for the Madrid stock exchange, seems to be on the cusp of a large correction to the downside of about -20%<-25%. Technical indicators signal a consolidated drift lower, while the MACD also signal a broader Sell-Off move. Concerns are for the undercapitalization of many listed companies, in particular, the Spanish banking...
In this update we review the recent price action in the IBEX and identify the next high probability trading pattern and price objectives to target
Short Term Elliott Wave View in IBEX suggests rally from 3/7/2022 low is in progress as a 5 waves impulse. Up from 3/7 low, wave (1) ended at 8875.30. Wave (2) pullback has ended at 8137.37 with internal subdivision as a double three. Down from wave (1), wave ((a)) ended at 8512.3, rally in wave ((b)) ended at 8703.50, and third leg lower wave ((c)) ended at...
Short Term Elliott Wave View in IBEX suggests the decline from November 1, 2021 peak is unfolding as a 5 waves diagonal. Down from November 1, 2021 peak, wave (1) ended at 8082.4 and rally in wave (2) ended at 8912.20. The Index resumes lower in wave (3) which ended at 8048. The 1 hour chart below shows that move in wave (3) which subdivides in another 5 waves in...
There is a major resistance around 8838. Will it break? I don’t think so but it’s worth to follow news tomorrow on ECB rates decision. Definitely we’re living in the times of great economical uncertainty
Hello dear trader Due to the structure of the market, it is not possible to signal immediately. So we wait for it to proceed according to the setup. These are just my personal analysis and you enter according to your strategy. Entry:8670_8697 Stop:8741 Tp1:8528 Tp2:8456 R/R:5.49
The market just reached 50EMA, I am surprised it went that high and we might stay here for a while or drop slightly. I expect another bullish attempt towards 9000 - I will be looking at sell position then Please trade carefully, I’m not a beginner trader, not yet a pro
I’m not very familiar with this market, only started to trade it two weeks ago. Based on technical analysis death cross just occcured. RSI is pretty low but we still can go lower towards 8000. After that we should see some green candle sticks to the upside to 8500-8700. The market will become more bearish next year and with Omicron I don’t think we will go that high.
The wave you see in the future price on the chart is a schematic of a possible price trend and will not be formed just to clarify the possible price movement. This is a personal analysis and should not be considered a criterion for buying or selling. Please pay attention the Take profit and Stop loss
Short term Elliott Wave View in IBEX suggests the rally from January 28, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from January 28 low, wave 1 ended at 8739.9 and wave 2 pullback ended at 8274.60. The Index extended higher in wave 3 towards 9148.9 and pullback in wave 4 ended at 8804.90. Subdivision of wave 4 unfolded as a zigzag...
Monthly timeframe draws a macro descending resistance going back to 2007. This line has meant a significant bounce each time price touched it. This time the resistance is coliving with monthly ema 200 which brings me to expect another bounce although this time it might not be significant. Price is moving upwards inside an ascending paralel channel for few weeks...
If stock market crash this year, very possible 6k or 5k for IBEX!!!
How to use TP! When the order price breaks down Tp1, you wait for Tp2 and SL moves to Tp1, so as to secure earnings. So with Tp2 to Tp3. When we publish the closing of a position, you close it. When the order comes to SL, always consult with us, do not close the order. Follow your open positions!
Correction in continuation plane ABC the one that is developing the IBEX 35 with projection to the 8600 points