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The Ibex closes the week with rises of 1.17% and keeps looking at 9,700 points



The week before Christmas ends with good feelings in the market and has resulted in a rise of 1.17%. The Ibex has closed this Friday at the maximum of the day (9,675 points) and, although its appearance is still weaker than that of the other European exchanges, experts from Bolsamanía recognize that "at the minimum money enters the market". The selective has traded with moderate increases (+ 0.38%. 9,653 points). We remember that you have support in 9,468 points and resistance in the area of ​​9,750 points.

Within the Ibex, the rises in Mapfre (2.97%) and Enagás (2.67%) and also the advances in Cellnex (2.16%) or Bankinter (1.38%). On the negative side has been On, which has lost 3.58%.

The 'quadruple hour witch' (expiration of options and futures on both sides of the Atlantic) and macro data (especially in PCE and GDP in the United States) will mark the last day of the week. In addition, investors are pending from the United Kingdom, as the British Parliament votes on Friday the exit of the European Union on January 31, 2020, with a law that wants to prohibit the extension of the transition period beyond December 2020 and that opens the possibility of a Brexit without agreement in the event that a commercial agreement between both parties is not reached in the next twelve months.

In the United Kingdom, it is also news this Friday that Andrew Bailey has been named new governor of the Bank of England replacing Mark Carney. The succession will become effective as of March 16, 2020.

For the rest, the national policy also occupies a main space this Friday after the decision of the European Justice on Oriol Junqueras and his immunity as a MEP. The media agree that this fact hinders the endowment, that every time It appears as more complicated. Bankinter experts said this week that they expect pyrrhic increases for the Ibex this year due to the situation of political uncertainty in Spain… and they are not the only ones.

On the business level, investors have been pending Repsol (0.75%). 'The Information' has published that the National Court points to the firm in a secret piece for the work of Villarejo. On the other hand, PharmaMar stands as the best value in the Spanish market in the year after shooting 20% ​​yesterday. Up 166% in 2019.

Finally, few news and good tone about the US and China. The Secretary of the Treasury of the United States, Steven Mnuchin, said Thursday that the United States and China would sign their so-called phase one trade agreement in early January after technical problems.


"The volume in this Friday's session has been quite high, but the reason is none other than the great expiration we have had this afternoon: the four-hour witch hour. Otherwise everything remains the same. Instead of correcting the last rises with falls, what we are doing is deploying a wide lateral movement, consuming time, "explains José María Rodríguez, technical analyst at ForexNews.online.

"This does not take away so that there is still the possibility that correct in the very short term towards the support area of ​​9,500 points, 50% of the bullish hole left just a week ago, "he says.

"The sensations are still good, whether or not there is a short-term correction.. After all, the price is still comfortably embedded within the bullish channel through which the price has been shifting since August. So that the base of the channel, by definition support, now passes through 9,250 points and the top of it through 9,880-9,900 points, "concludes the expert.

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