We continue in that phase in which it does not matter what the price does both up and down, since the implications are null from the point of view of the graphics.

Technical analysis

DOWN TREND VALUES

Short term

Medium term

Long term

You just have to look at the daily chart of our selective to realize that not only is the price range narrowing, but also. What you see is that it has stopped, it has stopped dead in recent days. But the truth is that really we are indifferent to everything that happens within the price range between 6,400 and 7,000 points in round numbers. The control zones are dictated by the market on a day-to-day basis and at this moment these are the price levels that we have to monitor in the very short term.

Or in other words, any slight possibility that the rebound could have continuity happens because the minimums of last week are respected (6,420). If they get lost and taking into account that we are the weakest index among the great European squares we cannot rule out a return to the lows of March, the 5,814 points. While the confirmation of a new bullish section in trend (short term) we will have it only above the highs of April, the 7,210. And in the meantime, wait for the price to tell us what you want to do and when.

Ibex 35 daily chart

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