IBEX 35 (IBEX) Closes Prior Hour Near 6736 (Up 0.54%); Heads Down For the 2nd Day In A Row, Makes Big Move Relative to Two Week Trend, Crosses 20 Day Moving Average

The Hourly View for IBEX

Last Updated September 21, 2020, 12:57 GMT

At the moment, IBEX’s price is up 36.04 (0.54%) from the hour prior. The hourly chart shows that IBEX has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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

IBEX 35 is down 2.21% (156.4) since the day prior, marking the 2nd day in a row it has gone down. On a relative basis, IBEX 35 was the worst performer out of all 14 of the assets in the equity indices asset class today. Here is a daily price chart of IBEX 35.

IBEX

IBEX 35 Technical Analysis

First things first: IBEX 35 crossed below its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For another vantage point, consider that IBEX 35’s price has gone up 5 of the previous 10 trading days.