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It's late to buy, but early to sell: Ibex support and resistance



In the last two sessions we have been able to see how the Ibex cannot with the resistance zone that it has in the upper part of the side of the last month. Intraday yes that it has been placed comfortably above 9,000 points but it does not achieve it at the close of the session.

Technical analysis

Short term

Medium term

Long term

At the equator of the week the Ibex seemed determined to beat the resistance of 9,000-9,010 points, which is no other level than the upper part of the side of the month of August. However, at the close of the session it deflated and closed below. And this Thursday something similar happened, so that our selective is still not able to comfortably confirm above the resistance of 9,000 points. Which leaves the door open for him to head towards the base of the side at 8,800 points. The truth is that everything suggests that it will end up breaking in search of the zone of annual highs at 9,310 points.

But it lacks a little push. It can be said that as long as it respects the weekly lows (8,783), the conditions exist so that, sooner rather than later, it manages to set course again to the highs of the year. And above we have the 9,500 points, where you can end up getting rid the mother of all battles.

Ibex 35 daily chart

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