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

News Releases Impacting IBEX 35 Index

  • Forecasted Harmonised Inflation Rate YoY Final in Spain: 5.5%. The previous number: 4%. (37.5% difference between the two.)

The Hourly View for IBEX 35 Index

  • At the moment, IBEX’s price is down -2 (-0.02%) from the hour prior.
  • The hourly chart shows that IBEX 35 Index has seen 2 straight down hours.
  • As for the trend on the hourly timeframe, we see the clearest trend 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 an uptrend on the 20 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 moment, IBEX’s price is up 66.9 (0.74%) from the day prior.
  • IBEX 35 Index has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 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