Despite this, the declines have not triggered alarm, for the moment, and the stock markets are still evolving at a certain distance from the first supports to monitor and, above all, areas that should under no circumstances be lost so as not to call into question the bullish context in the short and medium term.
Specifically Ibex 35 and EuroStoxx 50 are approximately 4% of these areas. In Europe, the levels to watch remain at the September lows, where “the yellow line or dividing line that separates a bullish context from a potentially bearish context towards the red line which are the August minimums in the 4,473 points“explains Joan Cabrero, technical analyst and strategist of eco-retailer.
In the case of Ibex 35for its part, the minimum zone of July around the 10,840 pointsrepresents this better yellow line and it moves away a little from the closing levels of this Wednesday, at almost 7%.
Despite the distance from the supports to watch (the September and July lows in the case of the Ibex 35), Cabrero warns that in recent sessions the market has witnessed what is technically called to come back either go back to the former resistance zone, now support, of the 11,470 points.
“Between this support or 11,138 pointswhich are the lowest in September, we must stop the declines and resume the upward trend”, says the expert who, on the operational level, has been insisting for days on the fact that to buy, we must “wait until the last major increase is corrected and these supports are reached”.
Strategic technical analysis of the Ibex 35
Heads and tails in Asia
In Asia, the day once again leaves conflicting positions between several of its most important markets. THE confrontthis time it is the Japanese stock market which takes it. The Nikkei managed to appreciate by more than 2% during the session and regained some of the ground lost in recent days where volatility took over the selective due to uncertainty over who would finish by being the candidate for president of the country of the ruling party.
THE cross the Hong Kong stock market takes over -the only one opened in China this week-, which lost more than 3% and thus paused the bullish streak that it had accumulated over the last fortnight, which had led it to be the stock market most bullish in the market so far. year.
