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The Ibex rises slightly and maintains the resistance of 8.375 in the spotlight



The Ibex extended the gains this Wednesday (+ 0.26%. 8,164 points) after starting the session in the red. The selective Spanish consolidates the 8,100 points after surpassing this Tuesday, and with great force, the resistance of 8,000 points. He did it in the heat of new highs on Wall Street, with the Dow Jones marking for the first time in history 30,000 points. Now the selective Spanish has his next resistance in the bearish gap in March that was left at 8,375 points.

"The selective not only managed (this Tuesday) to close above 8,000 points, but also overcame the resistance of 8,102 points, highs of last day 16. Its technical aspect for the next days is very good and it seems that we could end up seeing how it covers the downward gap in March that will be left at 8,375 points. The first level of support is at 7,835 points, prices quite far from the current ones, "explains César Nuez, analyst at Bolsamanía and head of Trader Watch.

Regarding specific values, PharmaMar, Solaria and Telefónica, what yesterday it skyrocketed 8%, are now the best. Repsol and Aena (after a price cut to 150 euros by Morgan Stanley) are the ones that fall the most.

Asia has experienced a day of moderate and mixed movements, while American futures also trade mixed and almost flat. The squares continue to want to go up despite today's respite from the heat of the Covid vaccines and, although the rally already started weeks ago, many believe that the perfect conditions exist for the revaluations to persist and a full-blown Christmas rally to form.

This Wednesday's agenda brings the Preliminary US Third Quarter GDP, weekly unemployment claims or the minutes of the last Federal Reserve meeting (Fed). The United States economy fell 2.7% in the third quarter, one tenth less than expected. The US economy recorded a large improvement between July and September, after GDP contracted 9% in the second quarter compared to the same period last year.

The new unemployment data has not been so positive. Weekly jobless claims remain a headache for the US, and have climbed to 778,000 in the week of November 21, compared to the 733,000 anticipated by the consensus of economists and the 742,000 registered in the previous week.

We remember that this Thursday Wall Street closes for Thanksgiving and that on Friday, the day in which Americans will take the opportunity to do their Christmas shopping (Black friday), places are only open for half a session.

It should also be noted the rally that oil is experiencing in parallel with the rally of stock indices. The price of Brent crude exceeds $ 48 a barrel, the highest level since early March. Oil prices have been supported by growing optimism about demand thanks to positive news about the vaccine, in addition to support from a gradual decline in the US dollar.

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