IBEX 35 (IBEX) Down 1.44%, in an Uptrend Over Past 14 Days; is Inching Close to 20 Day Average

The Hourly View for IBEX

Last Updated October 16, 2020, 00:06 GMT

Currently, IBEX’s price is down $-6 (-0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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 back and forth price flow continues for IBEX 35, which started today off at 6816.8 US dollars, down 1.44% (99.8) 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. Let’s take a look at the daily price chart of IBEX 35.

IBEX

IBEX 35 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that IBEX 35’s price has gone up 8 of the previous 14 trading days.