IBEX 35 (IBEX) Up 1.84%; Breaks Above 50 Day Average

The Hourly View for IBEX

Last Updated February 16, 2021, 23:19 GMT

Currently, IBEX 35 Index’s price is down -2 (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on IBEX 35 Index. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

IBEX 35 Daily Price Recap

IBEX 35 came into today up 1.84% (148.5) from the open of yesterday, marking the 2nd consecutive day an increase has occurred. Relative to other instruments in the equity indices asset class, IBEX 35 ranked 4th since yesterday in terms of percentage price change. Here is a daily price chart of IBEX 35.

IBEX

IBEX 35 Technical Analysis

Notably, IBEX 35 crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days.