The Hourly View for IBEX
Last Updated February 23, 2021, 23:19 GMT
At the moment, IBEX 35 Index’s price is up 23.03 (0.28%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
IBEX 35 Daily Price Recap
The back and forth price flow continues for IBEX 35, which started today off at 8112.2 US dollars, down 0.48% (39.4) from the day prior. Relative to other instruments in the equity indices asset class, IBEX 35 ranked 8th since the day prior in terms of percentage price change. The daily price chart of IBEX 35 below illustrates.
IBEX 35 Technical Analysis
Notably, IBEX 35 crossed below its 50 day moving average yesterday. Volatility for IBEX 35 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that IBEX 35’s price has gone down 7 of the previous 10 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!