In weekly terms, the IBEX 35 adds cuts of half a percentage point compared to last Friday’s close. The selective develops increasing highs and lows with respect to the highs and lows of the previous week, which suggests that last week’s recovery attempt is trying to stay alive during the last five sessions. However, the Ibex is trading below the previous week’s close, which translates into arguments that invite caution. That is, it has been a A little bittersweet week for the Ibex 35.
To think about recovering positions, next week we should mark new highs surpassing the current weekly highs, that is, the 11,720.70 points, and close above.
But, for now, we maintain that bittersweet taste in the short term and without forgetting that we have recently broken through 11,564 points at the weekly close and, therefore, activated double top figures with bearish implications. In this sense, the theoretical minimum retracement target remains active around 11,138.80 and 11,110 points approximately.
If you want to know the technical analysis of all the Ibex 35 values with their supports and resistances, click here