Álvaro Nieto, technical analyst at Investment Strategies, points out that in the Ibex 35, this week we have seen slight increases of just 0.02% and we have also seen a low trading volume due to the end of year dates, which we have only had a session last Monday, last Tuesday and the half session last Wednesday.
In this way, in the Spanish market we will continue to maintain a positive vision regarding the continuity of the increases in the index from the lows of the past. I will always know that this GAV or cist gap that started last week remains open.
Hence, As long as the price does not end any weekly candle below 16,854.40 points, we will maintain a positive attitude in the Spanish market. since despite the high overbought levels that we have in the MACD ocillator, the oscillator maintains deep active upward cuts.
Therefore, we will have the first sign of weakness in the short term when the price ends a weekly candle below 16,854.40 points, since the preparation of that level would cause the price to begin a consolidation of all the increases that have occurred in recent months.