José Antonio González, Market Analyst for Investment Strategies It emphasizes that the levels of Ibex 35 below 14,000 points, the psychological level to take into account, which means being practically flat with respect to the previous weekly sail, at the height of the 13,969 points.
It emphasizes that this flat movement, the lack of movement in weekly terms, fits perfectly with maintenance, the validity of this short -term consolidation process, which takes place in recent weeks tRas register the annual maximum at 14,370 points.
This gradual loss of increase, this inability on the part of the purchases of reactivating positions, activates the first sales signals of the weekly MACD, whose readings require a cleaning or normalization process, because they accumulate extreme overcompra levels.
However, this cleaning process, by the weekly MACD, will not begin to have more ‘harmful’ effects by the price curve of this index does not show us otherwise.
And we have to monitor the area of technical relevance of previous ceilings or resistance, which now acts as potential soils or supports, around 13,655 or 13,446 points.
As long as we do not see weekly closures below these references, we continue to consider that the correction risks remain limited in the IBEX 35 And therefore, the purge process would be developing more in time than in depth.
In this way we would be seeing how the selective would be developing a perfectly identified side range below those 14,370 points and above the area of technical relevance commented. Lateral movement that would enable the continuation of the cleaning of the weekly MACD that allows purge those readings of extreme overcompra without damaging, In the process, The validity of reading maximums and minimums that takes place since the minimum of October 2022.
Week without great novelties from the technical and charrtist plane.
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