New Annual Highs

At this point in the month of August and after all lived since March, no one disputed that the tendency of our indicator, and those of all other countries is clearly bullish. I describe a graph of Ibex 35 where we see the complete fall since December 2007. From March lows, he corrected 23.60% fall and 38,20% hang virtually undeterred. Now approaching the resistance of 50% of the fall, which was located around the 11.372, a former resistance had environment to 11,167 points, hence the fair break playing that resistance and these last few weeks back cutout. It trims and rises again with strength overcoming this resistance and staying at the gates of 11,372 50% resistance points. (the truth is that he has surpassed them in maximum intraday).

As you can see with almost surgical precision, as if someone were moving the market and to be guided by these references. Then, what we expect this market?. More hikes in the short term. Today it has broken resistance and has done so with a hollow to the boost that has not been filled. As you know the holes on the upside they are important in technical analysis. Therefore the 11.372 resistance can be easily whipped tomorrow and aim at following strong resistance from our index that is located in the surroundings of the 12,000 points (specifically at 12,055 points I have it starting).

The truth is that this has been a rise in V, very upright and cut important to adjust that rise would need. But markets do not always do what we want or when we want to. We will see what is happening and if the increases continue. We enter into the month of September in no. A month along with October, traditionally complicated for bags. Even so also said all the analysts that expected cuts in summer and it has been one hundred percent bullish.

Comments are closed.