News Releases Impacting IBEX 35 Index

• Forecasted Inflation Rate MoM Final in Spain: -0.2-.. The actual number: -0.3-.. (33.33% difference between the two.)

The Hourly View for IBEX 35 Index

• Currently, IBEX’s price is up 15 (0.18%) from the hour prior.
• This is a reversal of the price action on the previous hour, in which price moved down.
• As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
• The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

IBEX 35 Index’s hourly price chart is shown below.

The Daily View for IBEX 35 Index

• Currently, IBEX’s price is up 27.2 (0.33%) from the day prior.
• It’s been a feast for bulls operating on the daily timeframe, as IBEX 35 Index has now gone up 5 of the past 5 days.
• Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
• Price action traders may also wish to note that we see a pin bar candlestick pattern on IBEX 35 Index. Given that we see an uptrend on the 20, 10 and 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
• Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, with price now being above it. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Below is a daily price chart of IBEX 35 Index.

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