Banks and Telefónica boost the Ibex (+ 0.58%) that already looks towards 10,000 points

Wall Street that closed last flat yesterday at this time on Wednesday is registering new historical highs, while in Asia the green numbers have clearly dominated this morning despite fears of the coronavirus.

"Despite concerns about the coronavirus, investors are inclined to believe that central banks and policy makers have measures to stimulate the economy during and after the public health crisis," CMC Markets analysts write Wednesday. in your daily report.

So far, China has announced 97 new cases of deaths from the Wuhan virus, with a total of 44,000 infected. Julius Baer's analysts argue that the worst has happened, but not everyone thinks the same. "Currently, the recovery rate of those infected by the virus is accelerating, while the spread of new cases is stabilizing," they point out from the firm.

Federal Reserve President (Fed) Jerome Powell said Tuesday, in his appearance before Congress, that the coronavirus "can cause disruptions in China and on a global scale." Powell also said they are closely monitoring the emergency. On the current monetary policy of the US central bank, there is a 'wait and see' sentiment when it comes to making decisions about the rates, Jerome Powell said it is probably appropriate.

From the other side of the Atlantic, it is also news on Wednesday the triumph of the Democratic candidate, Bernie Sanders, in the New Hampshire primary. Although Donald Trump is the clear favorite to win the November presidential elections, Sanders is confident and has claimed that his victory will mark "the beginning of the end" for the current Administration.

As for the agenda of the day, few relevant data beyond the new appearance of Jerome Powell before Congress.

TECHNICAL ANALYSIS

"Target accomplished. We already have our Ibex right in the potential zone of resistance that by definition confers the high part of the bullish channel through which the price has been shifting since October. Although we do not rule out a dilation towards the round and psychological 10,000 points, "explains José María Rodríguez, technical analyst at Bolsamania.

"The daily overbought is very high and the 'rally' from the lows of last week is 6%. Therefore, let's be cautious in the short term because we cannot rule out some correction / proportional adjustment of the previous rises. The Ibex shares graphic with BBVA which we already know works very well as an advance value of our selective ", clarifies.

"As for the values, we already have Santander 'poking its head' above the bearish guideline. In the range of 3.90-3.95 euros come together important resistances, hence we can talk about the four euros as an area of control to beat, and if it can be in weekly candles it's much better. Only above the 4 we will begin to look at the Cantabrian entity with other eyes ", concludes the expert.