The selective advances 0.8% weekly and is trading above 11,640 points. “Although it develops maximums and minions compared to last week, we should not ignore the broad lower shadow left by the weekly candle. And it is thate since last Friday’s close to the lows, it has dropped -2.2% reversing the negative amount after the progress of Friday’s session.”
For the recovery of the IBEX 35 on the daily chart to begin to be more reliable, says this expert, “it requires exceeding the last decreasing maximum at the daily close, the highs of Monday, November 11 at 11,668 points. Daily closings above that level would allow updating bullish objectives at 11,892 points. which would be the next decreasing maximum that the index left on Monday, November 4.”
This shopping context would collapse if it pierces the lows of Wednesday, November 13, at 11,295 points.
“But beyond these levels, we maintain a constructive attitude because we have a structure of increasing maximums and minimums and the recent adjustment of the last sessions/weeks does not alter the validity of the primary structure.”
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