IBEX 35 CFD
IBEX bearish from the end this monthIBEX confirmed the head&shoulders with the break of the 2yr support at the beginning of the year. It's is inside of a downtrend line since july 2015 and it is arriving to a good point to open shorts. Since it tested 7900 points it start a ABC correction that meets with the 50% fibo. For the next months, i expect the 5th impulsive elliot wave.
RSI arriving to levels that in the past worked as tops.
Reasons why i see this idea:
Downtrend line
5 impulsive elliot wave
50% fibonacci correction
Pull-back
RSI near to tops
Head&Shoulders active
Gonzalo Melendi
IBEX35 | PERFECT PULLBACKWe have seen spain pulling back to 9230 resistance.
Care with new lows and try to catch a great entry at 7500.
Happy trading!
Ibex35 still very bearishSupport values at 7500 level from 2012-2013 are at the very long direction of the index.
The IBEX35 should go to 7500 before any serious "bull" approach
IBEX35 - Back to the future?Some beautiful symmetry on this index.
As the world has a mini melt down in 2016 I'll be looking around 7,000 level to find support and hopefully mirror the move from 2008 to take us up and hopefully beyond 12,000
IBEX 35 ShortWell... After all this news, this index is so overbought and on critical levels of resistance, we should see this one going down sooner than later.
Regards
