The IBEX 35 on the weekly chart is trading above 15,500 points. Which represents an advance of around 0.18% on a weekly basis but threatening to have a weekly closing below the long-term secondary growing guideline, which starts from the minimum of 2025 and that we have been following for quite some time.
Weekly closes below that reference, and below the hammer candle in weekly terms of 15,052 points, would show a short-term bearish turn that could lead to successive attacks at 14,645 points.
Therefore, in a context of extreme accumulated overbought by the weekly MACD, threatening the viability of important supports, we are facing a context in which the risk of correction remains limited but be careful because we could have downward cuts in the weekly MACD that could lead to a correction.
See the analysis of all the components of the IBEX 35