IBEX 35 Index Does it Again: Heads Down for the 2nd Straight Day

The Hourly View for IBEX 35 Index

  • At the time of this writing, IBEX’s price is down 0 (0%) 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 100 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

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

IBEX

The Daily View for IBEX 35 Index

  • Currently, IBEX’s price is down -36.5 (-0.42%) from the day prior.
  • The daily chart shows that IBEX 35 Index has seen 2 straight down days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day 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 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily 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.

Below is a daily price chart of IBEX 35 Index.

IBEX