José Antonio González, market analyst for Investment Strategies, indicated the mid-session levels of the Ibex 35, which, in the weekly chart, stands at 16,334 points, which in weekly terms, that is, the current trading price level with respect to last Friday’s close, represents an advance of more than 3.24%, marking increasing highs and lows with respect to the previous highs and lows and, therefore, we are moving away from this very short-term support area, specifically the zone of 15,750, 15,724 points.
We understand, therefore, that short-term correction risks remain limited and, therefore,or more likely remains the recording of new historical annual highs specifically above the highs of two weeks ago, those highs recorded or reached at 16,661 points.
As long as we see weekly closings below those 15,724We insist, despite readings of extreme over-buying, complacency among investors, the price, which is the most important variable, would still not denote any type of impact, which refers even to the very short term.
So, what a positive week it is. continues to invite optimism in the short term on the part of the selective Ibex 35 after a rather dubious week we had last week.