IBEX 35 : The bull rally is being held back
Spanish stocks have been very successful since the low point of mid-August. Thanks to the return of investors, Ibex has, in fact, increased by 500 points or 6%
The main contributors to the index’s growth are industrial groups, which are highly sought after by investors to play the commercial game. ArcelorMittal (+21.2%) and Cie Automobile (+20%) established the best bull paths.
Graphically, in daily data, the prices return to test the upper line of 9170 points. A legitimate technical break can be set up following the recent index progression. This consolidation phase must be supported by the support of 8800 points, the level of an old bullish gap. A new acceleration beyond 9170 points would be required to open the way for an additive increase with a target of 9400 points.
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