The Ibex loses the 9,100 points in its worst run since 2017

Thus, the day is again marked by the uncertainty surrounding the trade negotiations between the two powers, which resume this Thursday. For the majority, it is difficult to reach an agreement this week, especially before this expected increase in tariffs. However, some believe that, precisely because of that threat, both could close a deal this Friday.

"The uncertainty regarding the trade agreement between the US and China continues to dominate world markets," experts at Danske Bank acknowledge. "Although previously we thought that there was a high probability of concluding negotiations this week, the uncertainty has increased," these analysts admit.

The Ibex faces this situation falling below the 9,200 points and even the 9,100. Despite the declines, Bolsamanía experts bet on optimism and believe that, "in theory, the conditions for a short-term bounce are now given." Thus, the important daily oversold levels that are observed in the stochastic moment oscillation stand out. However, the doubts about what Trump ends up doing are still key.

Affected by the tariff war, Arcelormittal, Técnicas Reunidas (-4%) and Acerinox (-3.1%) have once again led the declines.

MORE RESULTS

Business results continue to dominate the business news of the day. ArcelorMittal has reported a fall in its first-quarter profit of 65% and fell sharply on the stock market (-6.3%). In addition, FCC has reported an improvement in its profit of 43.9%, to 72.4 million. The company also announced it would resume the payment of the dividend.

Tomorrow will be the turn for Telefónica and IAG.

In another order of things, we talk about bitcoin, which has exceeded $ 6,000. The 'crypto' has accumulated an increase in value since the beginning of the year of more than 50%, which keeps investors "completely dazzled", according to Naeem Aslam, an analyst at Think Markets.

As for other aspects of the agenda this Thursday, the Spanish Treasury has placed 4bn in bonds and obligations.

TECHNICAL ANALYSIS

José María Rodríguez, technical analyst at Bolsamanía.com commented that "in the accumulated month of May, we fell 5% (sell in may and go away?) And chain sixth consecutive session of falls." Technically we have drilled the MM200 daily, In theory we head for the support zone although there numerous false signals are generated, both upwards and downwards "

That said, "we already have our selective in the first level of adjustment / recession of 38.2% Fibonacci: the 9,100 points. And it is taking the market naturally and despite the extreme oversold daily levels. We do not rule out that the correction may have continuity towards 50% adjustment, at 8,850 points, 61.8% corresponds to 8,800 points ".

"Above, on the resistance side, the most important thing is still in the bearish gap of 9,410 points, 'Gap' that either changes things this Friday or is going to become a weekly bearish gap, which always sends out negative vibes to the resistance itself, bad sensations because some of the 'big' companies are drilling important supports: Santander closes the bullish gap of 4.21 euros and Telefonica has pulverized with ease the support of 7.20 euros. "

The analyst has concluded that "either we see a lot of change or our operator, who publishes results tomorrow, will head to the support it has in the bullish gap of the session on October 31, at 6.86 euros" .