The IBEX 35, tells us José Antonio González, financial market analyst at Investment Strategies, is developing a very interesting candle in weekly terms, and after closing above the highs of the previous week, the level of 11,732.7 points, It would be developing a positive engulfing candle. This would imply potential advances in future sessions/weeks.
All this supported by a weekly MACD about to develop new upward cuts. and therefore allows us to reactivate, both in time and form, this unquestionable structure of increasing maximums and minimums.
Therefore, a Spanish variable income that continues to develop in a very positive way and that allows us to continue projecting the maximums generated during the month of December 2009, the level of 12,240 points, which we had been monitoring in previous market reviews when we were talking about exceeding the June 2024 highs.
On the daily chart, the Ibex 35 manages to cancel this double top, cancel minimum theoretical retracement objectives and, therefore, allows projecting the width of a process or lateral range, that we are identifying in the 12,318 points that we could reach in the next sessions. A level that from current levels reaches an added potential of 1.89%.
Clear improvement, therefore, of the Ibex 35, which manages to purge overbought structures on a daily time scale, and once again shows signs of reactivation by purchases.
If you want to know the technical analysis of all the Ibex 35 values with their supports and resistances, click here