The IBEX 35 is trading above 16,600 points, which allows it to advance more than 2.6% in the week. «Increasing maximums and minimums compared to the previous maximums reached with the minimum theoretical ascent objective that we have been proposing since the end of September, at 16,265 points,» says González. Therefore, despite the broad upper shadow left by the weekly candle, «the inertia is clearly in favor of buying.
«The MACD continues without activating descending cuts and, as long as the price does not have weekly closings below the secondary growing guideline that starts from the April lows as well as piercing the first growing minimum, at 15,763 points, there will not be the slightest justification with which to work on some type of short-term correction.» In case these levels are lost, the next supports will be at 15,443-15,337 points.
See the complete report with the technical analysis of the 35 Ibex values.