The Hourly View for IBEX
Last Updated February 25, 2021, 00:019 GMT
At the moment, IBEX 35 Index’s price is up 13.02 (0.16%) from the hour prior. IBEX 35 Index has seen its price go up 5 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend 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 an uptrend on the 20 and 5 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 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 8252.1 US dollars, up 1.72% (139.9) from yesterday. IBEX 35 outperformed all 14 assets in the equity indices asset class since yesterday. Let’s take a look at the daily price chart of IBEX 35.
IBEX 35 Technical Analysis
First things first: IBEX 35 crossed above 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 and 30 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 6 out of the past 10 days.