IBEX 35 (IBEX) Up 0.47%; Pin Bar Pattern Appearing on Chart

The Hourly View for IBEX

Last Updated April 9, 2021, 03:019 GMT

Currently, IBEX 35 Index’s price is down -1 (-0.01%) from the hour prior. IBEX 35 Index has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on IBEX 35 Index. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on IBEX; it is now pointing up. 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

The choppiness in the recent daily price action of IBEX 35 continues; to start today, it came in at a price of 8637.8 US dollars, up 0.47% (40.4) since the previous day. Out of the 14 instruments in the equity indices asset class, IBEX 35 ended up ranking 8th for the day in terms of price change relative to the previous day. Below is a daily price chart of IBEX 35.

IBEX

IBEX 35 Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.