In search of the optimal purchase zone in the Ibex in the face of a weekly close with less appetite for risk

The European and US stock markets today face a weekly close marked by the lowest trading volumes due to the holiday on Wall Street this Thursday (and on Friday the US stock markets will only trade for half a session). Something that has caused the dollar to fall against the most traded currencies on the planet. In fact, the Dollar Index, which reflects the evolution of the greenback against a weighted basket of the main currencies of the planet, is on track to record its first weekly decline in two months.

This trend has helped the risk appetite in global markets to moderate and has favored the continuity of the consolidation of recent sessions in the stock markets, both in the US and Europe, which have managed to remain above their first support levels. how are they 10,900 of the EuroStoxx 50 in its Total Return versionthe 18,900 German DAX 40 points or in the EuroStoxx 50 in its traditional version, the 4,600 points.

In the case of the Ibex 35, the area of 11,130 pointswhich are the September minimums, is the one that has been vehemently monitored since ecotrader being the optimal level at which to take positions in Spanish equities with the best risk-return equation.

“If it reached this support soon, we could buy looking for a bullish final stretch of the year or the well-known Christmas Rally from there, and if not, then enjoy the purchases we have in our portfolio, already thinking about options for 2025,” highlights Joan Cabrero. , technical analyst and strategist ecotrader.

The expert recalls that in this environment “there is the bullish trend that has been guiding the increases from the 2022 lows” and that a return to that trend “is a scenario that could be gaining momentum after the European banking sector SX7R has confirmed short term a bearish pattern that threatens additional falls of 4% in banking“.

The yen, protagonist of the week

Asian stock markets register a mixed session in which the most bullish part is taken by the Chinese indices amid speculation that Beijing will provide more support to the country’s economy at the key economic policy meeting in December. Despite everything, the weekly balance is positive for the majority of selective stocks in the region that have registered gains in the last five sessions with the exception of the Nikkei, which is trading flat with respect to Monday’s levels.

Of course, for the European investor, the week is positive in the Japanese stock market due to Since Monday, the ten most traded currencies on the planet have dropped at least 1.5% against the Japanese currencywith special mention to the US dollar, which lost more than 3%.

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