IBEX 35 (IBEX) Down 0.61%, in an Uptrend Over Past 14 Days; Nears 50 Day Moving Average

The Hourly View for IBEX

Last Updated February 18, 2021, 00:020 GMT

At the time of this writing, IBEX 35 Index’s price is up 12 (0.15%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists 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 downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, so that price is now turning above it. 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

8153.7 was the closing price of the day for IBEX 35, resulting in today being one in which price moved down 0.61% ($49.8) from the previous day. Relative to other instruments in the equity indices asset class, IBEX 35 ranked 13th since the previous day in terms of percentage price change. Here is a daily price chart of IBEX 35.

IBEX

IBEX 35 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 6 out of the past 10 days.