Ibex35: Will it maintain its momentum after Jackson Hole?
The Ibex 35 has started the week strongly, rising 0.7% and reaching 11,150 points, consolidating its position as the most bullish index in Europe in 2024 with a year-to-date increase of 10.45%. Surpassing 11,000 points reinforces the bullish trend of the Spanish market, and today it has broken 11,150 points. The RSI is oversold at 63.15%, and the checkpoint (POC) has remained near 11,100 points. However, the focus is on Fed Chairman Jerome Powell's speech in Jackson Hole, which could influence financial markets, especially monetary policies and debt developments. This speech will be key in determining whether the Ibex 35 maintains its momentum or experiences a correction, with the possibility of the index piercing the sideways range at 11,195 points at the close.
Ion Jauregui - ActivTrades Analyst
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Ion Jauregui - ActivTrades Analyst
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.