The Ibex yields 0.2% and is unable to jump over 9,800 points

DIA continues to be the main focus with strong swings (at this time it rises 0.4%). It's been a complicated summer for the company, which is showing how much it is becoming a speculative value. We recall that last Friday it closed the day bouncing up 17% and that this Tuesday it dropped 6%. All this, without 'real' news to justify their movements.

The most bullish values ​​within the Ibex are Mediaset España (+ 1.7%) and Siemens Gamesa (+ 1.7%), despite the fact that Berenberg's experts have cut the target price of the wind turbine manufacturer to 15 euros per share. Among the large stocks, only Iberdrola (+ 0.3%) and Repsol (-0.1%) are trading slightly positive.

Among the less profitable securities of the Ibex are ArcelorMittal (-1.4%), Bankia (-1.3%) and Colonial (-1%). In addition, Telefónica lost 0.6%, followed by Santander (-0.5%), BBVA (-0.5%) and Inditex (-0.4%).

In the main board, the collapse of the Berkeley Energy mining company, which sinks by 50% to 1,67 euros, stands out. On July 18, it began trading with an increase in value of 51%, up to 0.72 euros. On a positive note, Almirall (+ 4%) continues with its high bullish momentum of recent days.

In Europe, this Wednesday different companies have presented results, among which we highlight ABN Amro, which has cut its profit by 29% in the second quarter, although it has exceeded expectations.

OIL, USA, IRAN AND ITALY

In recent days there is talk of Iran and the United States sanctions, something that is having a special impact on oil. Although Brent crude falls strongly by 2.5%, to $ 72.74, after the weekly inventories of crude in the US have fallen less than expected.

In addition, there is also talk of Italy and the uncertainty of not knowing what will come out of the budgets for 2019 that the Government must present in September. The radicalism of the Italian Government has the rest of the European Union (EU) on the edge of their seats over the issue.

Likewise, the issue of the trade war between the US and China continues to be very present, although it is true that the market begins to immunize itself from the stakes of both countries. In the currency market, the euro appreciated 0.05% to $ 1,1606.

In Turkey, the lira has stabilized after the last falls, but the market remains nervous about the diplomatic crisis with the United States. And, in China, in the early morning of Wednesday to Thursday, July inflation will be known, data to which investors will pay special attention. "Inflation is expected to drop modestly to 4.5% in July, compared to 4.7% in June," Danske said.

TECHNICAL ANALYSIS OF THE IBEX 35

As for the Spanish selective, it remains embedded between the 9,500 points and 10,000 points and seems to be very comfortable within these levels. So far this summer, the index has shown that it intends to continue moving within a very narrow range and not give excessive scares.

We must wait for the price to confirm in weekly candles above the resistance of the 10,050 points (top of the triangle) or to drill the base of it, now at 9,470 points. And act accordingly, adopting long (bullish positions) or shorts (bearish positions), respectively, comments José María Rodríguez, analyst at Bolsamanía.