IBEX 35 Index Closed Yesterday Down -0.54%

News Releases Impacting IBEX 35 Index

  • Forecasted Harmonised Inflation Rate YoY Final in Spain: 5.5%. The actual number: 5.4%. (1.85% difference between the two.)

The Hourly View for IBEX 35 Index

  • At the time of this writing, IBEX’s price is down -4.01 (-0.04%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as IBEX 35 Index has now gone down 4 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on IBEX 35 Index. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

IBEX 35 Index’s hourly price chart is shown below.

IBEX

The Daily View for IBEX 35 Index

  • At the time of this writing, IBEX’s price is down -49.6 (-0.54%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between IBEX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in IBEX’s price.

Below is a daily price chart of IBEX 35 Index.

IBEX