The IBEX 35 is trading slightly above 17,000 points, setting new annual highs and new historical highs. «·The weekly MACD continues to gain positive traction, while volatility continues to gradually reduce. The price, for its part, maintains a clear structure of increasing highs and lows with respect to the previous ones, which reinforces the current bullish scenario«says this expert.
In this way, «the index continues to fulfill our main scenario, which is none other than the prolongation and extension, both in time and form, of the clearly bullish process of the IBEX 35.» The weekly objective was to exceed the highs of the previous candle, located at 16,844 points. This improvement allows us to see that, with a view to future sessions, «the most likely thing will be consolidation of closings above the current highs, which are around 17,032 pointss».
In this context, no relevant changes are seennot even in the very short term. Buying pressure and purchasing dominance remain firmly established even in the most immediate reaches of the market. Therefore, «there are no signs of deterioration and the Spanish selective is, at this time, in good technical health.»
See the analysis of all the components of the Ibex 35 in this link