Some regions of Spain have hardened anti-covid19 measures in order to stop (not even reduce) the contagion. For example, Catalonia's new measures are municipal confinement from the 7th to 17th January, with shopping malls and gyms closed. However, EURUSD getting higher might seduce investors to invest in Spain, a strongly punished market since March 2019.
From a...
📌 Another example of the erroneous breakdown, a very similar position to DAX, CAC, FTSEMIB and STOXX. We can see how clearly the virus is leading the equity board, as Spain were the first to enter back into the second wave the prevention of a freeing breakup is being made possible via the important loss of diagonal support.
"Sell weakness, and even more when...
Dear Gamblers,
Here is IBEX35, major index in Spain. As you can see, things are getting uglier and uglier here.
Do not get caught in this enromous bullish momentum lately as you might get your ass kicked.
There's no strategy here as the neckline have not yet been broken, but it will, within the right time.
This strategy is no longer available if the index...
Not optimistic with these news... Maybe a correction is coming after that last candle.
Do you agree or you think the opposite? Sort of we need a miracle..
Cheers!
IBEX35 30 minute chart.
We see the red dotted traversing resistance line (once a support level) coming into play here. This level has disciplined the price (since 2012) whenever price has come into contact with it and has controlled price action steady through the last 8 years.
We go short as stochastic (not shown) is in overbought territory and we're hitting...
Trade war tensions made the markets tumble this Wednesday. Ibex 35, which is gaining volume (Cumulative Volume Indicator CVI was used) every week, has abandoned bullish channel started at the beginning of 2019 and continues its downward trend started back in May 2017. From a long term point of view, the end of this week will be critical to establish a correct...
Hello Traders,
IBEX short-term Elliott wave view suggests that a decline to 8850.20 low ended red wave A of a zigzag structure. The internals of that decline unfolded as 5 waves impulse structure where black wave ((i)) ended at 9471.20 low. Black wave ((ii)) ended in 3 swings at 9542.80 high. Black wave ((iii)) ended in lesser degree 5 waves at 8971.30 low. Then...
10,000 is a support zone:
- Broken trend line (resistance should turn to support)
- 50 MA line
- Psychological level
10,500 is resistance
Bullish scenario - IBEX will climb to 11,000 if it will hold above 10,000 and break above 10,500
Bearish - In case that 10,000 will break, IBEX will slide back into its downtrend zone and continue towards 9000
Read more about...
