ESP35 trade ideas
Positive expectations in European markets #Ibex35 Spanish indexBME:IBC FX:ESP35 TVC:IBEX35
After the worries of Wall Street subside, the technical analysis tells us that we have entered an area far from the minimum of the year and waiting to rise slowly as it goes overcoming resistances.
1) Above the downtrend line (yellow), still remains 4 interesting resistances: 50 EMA, 100 EMA, 38.2% fibonacci (9826) and the week's maximun (9806)
2) American futures indices $SPX $YM $NQ DJ:DJUS broke out thru the falling triangle today but still waiting to see the close. European markets are affected by American futures positive & negative about #TradeWar, #ColdWar, #Tariff
3) Volatility is low now but you know what happenned with bad news #Trump #Tariffs #TradeWar #ColdWar
Excellent opportunity to consider these markets also:
XETR:DAX INDEX:CAC INDEX:MOY0 FY1! SX5E
Careful to be too optimistic there are doubts about issues: Trump, geopolitical risk, Syria, Russia, Cold War.
Big picture:
IBEX 35 - Market to invest in the short term BME:IBC
European markets doing very well, one of them is the SPANISH market with FX:ESP35 IBEX 35 having a beautiful return.
It stands out as an alternative market, with an index full of traditional companies ( CA , ITX , REP , SAN , TEL )and lacking in technological companies, nor metals, nor tariffs, it does not seem that TRUMP can ruin the image of the beaches of Ibiza or the exquisite Spanish chorizo.
With a sustained growth in its economy and positive results in its companies and without forgetting that political stability has returned once the proposal of Catalan independence movement has been annulled.
Correction NeededWe were not able to close the window to the upside. That's why there shall be a correction of this attempt now.
Ibex 35Big test for the Spanish index in the next weeks. 9990 Area holds a strong resistance together with fibonacci level. If it breaks it's a big bull!
IBEX 35 - THE START?Hey Guys,
Look for any buy set ups since we are looking for upside in the IBEX 35. Check my past analysis to understand the general structure. I predicted the last uptrend impulse.
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Hey Chicos,
Busquen cualquier oportunidad de compra ya que buscamos recorrido alcista en IBEX 35. Chequead mis anteriores análisis para entender la estructura general. Predije el anterior impulso alcista.
Carlos
SupportThe index has fallen for 3 day very impressively. As we are meeting a double support here (MA and rising support), it may be ripe for a retracent. If the support doesn't hold however, we shall face another drop down.
Expect sharp drop in the #Ibex35 to end a 10-year correctionIt remains most likely that the downturn in primary wave E° (since May 2017) is complex and not complete yet. Our arguments are time, space, and wave pattern. Usually triangles tend to retrace a substantial portion of the previous countertrend move of same degree within the triangle. The retracement looks small so far. Moreover a 6-month E° wave looks rather short relative to the rest of the triangle.
We continue to project another wave down before primary wave E° and therefore the entire 10-year triangle is completed. Moreover we forecast the drop to be sharp. The reason for that is an expanding diagonal in the last leg of an intermediate degree (X)-wave. Diagonals tend to get retraced swiftly.
Bottoming at ResistanceThe MA serves as resistance here and gives support for a retracement upwards.
IBEX35 Daily chartSpanish index hit a resistance zone 3 days ago and still didn't break above. If it does we might see some more buyers jumping in. The price also crossed through the short term bearish trend which could indicate for a continuation of a long term bullish trend.
CorrectedWe did not reache a new high in the recent correction and we are at the top of a channel-like broadening formation.
