The IBEX 35 in weekly data is trading around 18,118 points. Compared to last Friday’s close, this represents advances of more than 2.5%. This recovery allows us to once again contemplate the possibility of exceeding both annual and historical highs, highlighting the level of 18,271 points. Exceeding this level would not only clearly reactivate the bullish process of the Ibex 35, but would also invalidate the bearish engulfing candle confirmed at the close of last week. Despite this, the rising trend drawn from the lows of early April 2025 remains intact, suggesting that the bearish risk signaled last week by the engulfing candle has been dissipating in recent sessions.
The price of the Ibex remains above the guideline, recovering levels and approaching the highs of 18,271 points. Therefore, as long as there are no weekly closes below the guideline or, especially, below the minimum of last week’s bearish engulfing candle, located at 17,581 points, The doubts raised the previous week should not be intensified. Only closes below these references and their supports would indicate an increase in bearish risk.
As long as the price does not break through these supports, the market action should not be anticipated. Thus, it remains as The most likely scenario is the continuity in time and form of the medium-term secondary bullish process, which implies that the IBEX 35 could establish itself above 18,271 points.
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