The Ibex 35 has demonstrated with its bullish behavior in recent sessions that it has between eyebrow and eyebrow close the year on a high note. It is something that has been technically demonstrated with the overcoming this Monday of the intermediate resistance that was found in the vicinity of the 11,800 points and that yesterday he confirmed by managing to beat the psychological limit of the 12,000 integerswhich is what stopped the increases during last October.
“Overcoming the 12,000/12,037 points This is another clear sign of strength that opens the door to increases until at least the growing resistance that arises from joining the different ascending relative highs since January 2023, which currently runs through the 12,400 points“explains Joan Cabrero, technical analyst and strategist of ecotrader.
“Overcoming this growing resistance would be a sign of enormous strength and the icing on the bullish cake of this 2024″, he highlights.
Following in the wake of Ibex 35in Europe it cannot be ruled out that the stock markets of the Old Continent move upwards in search of their highs of the year, which in the case of the EuroStoxx 50 are located in the 5.0125 points. “As long as the base of the channel that has been limiting the increases during the last two years remains standing (the 4,688 points), do not consider reducing exposure to the stock market,” says Cabrero, who also highlights in this sense the 10,900 of the DAX 40.
The South Korean stock market is already close to its lowest levels of the year
Although Constitution Day is celebrated today in Spain and this Friday the long weekend begins for many workers, the market does not close and today there will be a stock market session both nationally and internationally – of course -.
In Asia, the Chinese stock markets are the ones that lead the bulls with increases close to 1.5% in a mixed day in which the Nikkei lost 1% and in which The South Korean stock market continues to trade at red after the political earthquake that began this Tuesday with the decision of the president, Yoon Suk-yeol, to declare emergency martial law without prior notice, only to withdraw it hours later. From the beginning of this sequence, The Kospi – the country’s main stock exchange – is already down almost 3% and is trading less than half a percentage point from its lows for the year.
#search #icing #bullish #cake #Ibex
