José Antonio González, market analyst for Investment Strategies, highlights the situation of the Ibex 35, which manages to mark and record new all-time annual highsachieving in this sense and at this time advances in weekly terms of more than 2.68%, that is, comparing the last price quoted at this time with respect to the close of the previous week candle, we insist on this advance of more than 2.69%, marking and registering, I insist, new annual highs and also registering new highs and lows that are increasing with respect to the previous highs and lows.
In this way, it indicates that our priority context is confirmed, which was the continuation, the registration of new highs, and, therefore, we see with high priority of success a weekly close above the previous highs, specifically above 16,661 points, despite the fact that the overbought remains extreme in the weekly MACD, price evolution, which is the always most important variable, the priority variable, maintains a clear constructive bias and, therefore, we do not go against the market sentiment and, therefore, the clearly bullish trend of the market.
And he highlights that this will continue to be the case as long as we do not begin to see weekly closings below the secondary or medium-term growing guideline, which starts from the lows of early April, and, secondly, we do not see a weekly closing below the last perfectly growing minimum. projected right now around 15,750 and, specifically, the level of 15,724 points.
Therefore, as long as these two conditions do not occur at the close of the weekly candle, we continue to consider that it is most likely that the IBEX 35 will continue in a timely manner the strongly bullish process in both the medium and long term.