IBEX 35 loosing momentum
Loosing bullish momentum, RSI crossing its 9 week MA to the downside, overlapping waves and on the upper side of the Bollinger and YTD AVWAP bands.
If 10800 level is lost, we could see a very bearish development (lower highs and lows, downside momentum accelerating, middle term trend lines being traspásese, etc.) with a PT around the 9800/9600 area
If 10800 level is lost, we could see a very bearish development (lower highs and lows, downside momentum accelerating, middle term trend lines being traspásese, etc.) with a PT around the 9800/9600 area
Note
Ibex 35, Spanish stock index, seems that is breaking the higher end of a rising wedge, inside a very long term correction from the 2007 highs (at 16.000). Notice the rising pattern, with a big risk to the downside.Ibex is very skewed towards the financial stocks (banks and mutual funds), which have been largely benefiting from high interest rates in the eurozone. Huge tail risk if a real estate bubble should burst, as middle class spaniards are struggling with high CPI, decreasing median personal income, and an aging population.
Note
Holding in a tight range, 10.800/11.200Head and shoulders on the making?
Note
still sideways, but with the other european indexes falling heavilly we might see in the short term the 9800/9600 area
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.