José Antonio González, market analyst for Investment Strategies, highlights that the Ibex 35 was around 16,024 points this week, marking a new annual and historical maximum at the level of 16,210 points. one step away from reaching 16,265, which is the minimum theoretical ascent objective with which we had been working after the recent overcoming of this zone of consolidation or short-term laterality that we had with the overcoming of 15,443 points.
In weekly terms, the accumulated advances stand out, around 1.05% at mid-session last Friday. And it points out that it shows a weekly candle with a greater range, compared to the ranges of the previous weekly candles, increasing highs and lows with respect to the highs and lows also of the previous weekly candles, a weekly MACD that remains with upward cuts, positive trend, and, in this context, we maintain this dominance of purchases or demand for another week and, therefore, we continue to consider that the most likely thing is to continue in a timely manner the advances in the main stock market benchmark of the Spanish market, with the objective of reaching and exceeding 16,265 points.
On the contrary, as long as we do not see weekly closings below the secondary or medium-term growing guideline, which starts from the April 2025 minimums, as well as the perforation of that area of previous ceilings, now supports, more or less 15,443 and 15,337 points, we will continue without seeing signs that could start some type of correction by the reference selective of the Spanish market.
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