IBEX 35 (IBEX) Up 0.03%, in an Uptrend Over Past 30 Days; Doji and Pin Bar Patterns Appearing on Chart

The Hourly View for IBEX

Last Updated June 10, 2021, 18:19 GMT

At the time of this writing, IBEX 35 Index’s price is up 6 (0.07%) from the hour prior. The hourly chart shows that IBEX 35 Index has seen 3 straight up hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Most noteworthy in the world of moving averages on the hourly chart is that the 50 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

IBEX 35 entered today at 9156.1, up 0.03% ($2.5) from yesterday. Out of the 14 instruments in the equity indices asset class, IBEX 35 ended up ranking 3rd for the day in terms of price change relative to yesterday. Below is a daily price chart of IBEX 35.

IBEX

IBEX 35 Technical Analysis

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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. Or to view things another way, note that out of the past 14 days IBEX 35’s price has gone up 7 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.