Uncertainty about the next Brexit steps affect the Ibex (-0.5%)

The agreement reached between the United Kingdom and the European Union (EU) must also be ratified by the Twenty-seven countries, although it seems that there will be no problems. The question lies in what happens in the House of Commons on Saturday, since it is not clear that the DUP, which this morning has said it will not support the pact, finally does. It's support is essential.

The European Council meeting starts around 1:30 p.m. According to the agenda, in addition to Brexit, EU leaders will discuss other issues, such as the accession talks with Albania and the Republic of North Macedonia, Turkey's military operations in Syria and the long-term budget of the EU.

In Spain the political situation continues to be tense. The president of the Generalitat, Quim Torra, condemned last night for the first time all the riots and violent acts. All this while political leaders hold meetings trying to find a way to deal with this situation. Last night there were mobilizations and riots.

COMPANIES AND OTHER MARKETS

After the high from the Brexit agreement, IAG and Sabadell climbed about 3%, but have closed almost flat. The most bullish value of the session has been Siemens Gamesa (+ 2.16%), while Enagás (-1.93%) has been the most punished. In addition, MásMóvil has fallen 1.62% after a 4% placement of the operator to 22.09 euros.

In the Continuous Market, Tubos Reunidos has shot up 7.96% after announcing that it has reached an agreement with its creditors to refinance its debt. And outside our borders, in the United States, Morgan Stanley climbs on Wall Street driven by results in which it has achieved a profit per share in the third quarter of $ 1.27 compared to the planned $ 1.11.

In the currency market, the euro rose in value 0.5% at the close of the session, to $ 1,1127, and the pound managed to scale up to 1.30 against dollars, although it is now trading at 1,286. Meanwhile, in the raw materials market, the Brent barrel, a benchmark in Europe, yields 0.45% and is about to lose $ 59.

TECHNICAL ANALYSIS

"We have tried, but for the moment we have not succeeded. And this, despite the fact that the maximum of the session in our Ibex has been marked at 9,494 points, we go to 9,500 points in round numbers. Finally we close below the very strong resistance of 9,400-9,410 points that so many times have choking us, "says José María Rodríguez, analyst at Bolsamanía.

"Although to close the bearish hollow of 9,410 points it has to make it close on the Friday. Which means that we can still try tomorrow. Now, it is true that the 'round trip' session on Thursday, from key resistance levels, leaves the door open to the beginning of a very short-term correction. Correction that could lead to the filling of the bullish gap that we have recently left at 9,256 points without actually changing anything substantially ", clarifies

"The daily overbought is also very high and since we have not been able to cope with resistances, the normal and logical thing, would be that we attended a small correction (reaction phase) before trying again. Anyway, I insist, a weekly closure over 9,410 points would be a sign of important strength, "concludes the expert.