IBEX 35 (IBEX) 2 Day Down Streak Broken, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for IBEX

Last Updated January 14, 2021, 03:019 GMT

At the time of this writing, IBEX 35 Index’s price is up 8 (0.1%) 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. Of note is that the 20 and 50 hour changed directions on IBEX; they are 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

8361.1 was the closing price of the day for IBEX 35, resulting in today being one in which price moved up 0.18% ($15.2) from the day prior. Out of the 14 instruments in the equity indices asset class, IBEX 35 ended up ranking 5th for the day in terms of price change relative to the day prior. Below is a 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 additional context, note that price has gone up 17 out of the past 30 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.