The Ibex rebounds 0.58% thanks to the good news about China-US trade war and Brexit

The exchanges have registered a clear upward hike after knowing that China would be willing to reach a partial trade agreement with the United States. The Ibex has risen over 1% after knowing this news, although it has finally moderated the rises to 0.58%, which has reached 8,991 points. The rest of the main European indexes have also closed in green with the Dax as the most prominent. These increases have also been supported by the positive news of Brexit. The negotiator for the EU Brexit, Michel Barnier, has said that an agreement is "difficult but possible".

IBEX 35

11.656,600
0,39%

Within the selective we find increases of over 1% for Cie Automotive, Grifols or Aena, although Cellnex (+ 3.42%) is the most bullish value. On the negative side, Ence has been the worst value with a fall of 2.96%, followed by Acciona and MásMóvil, which have yielded 1.79% and 0.85%, respectively.

FEDERAL RESERVE AND GEOPOLITICAL CONFLICTS

Federal Reserve President (Fed) Jerome Powell has spoken again this Wednesday at an event in Kansas. The central banker has fueled doubts about the US economy and pointed out that the country, like other advanced economies around the world, "faces some longer-term challenges, such as low growth, low inflation and low rates. of interest".

Yesterday, Powell said the Fed will begin to increase its balance soon in an attempt to improve loan conditions, but made it clear that "this is not a QE," which is about liquidity. As for the types, it is still pending data.

The minutes of the last Fed meeting will be known on Wednesday. "This will allow a better understanding of the debate about the need for further adjustments. However, it should be borne in mind that the meeting took place before the recent US ISM bad data. ", explain Danske Bank analysts.

As for other highlights of the day, geopolitics continues to take center stage. Turkey has launched a military operation against the Kurds in northern Syria, which will likely increase tensions between the US-Turkey-Syria, and experts do not rule out that this extends to European politics.

In other markets, the barrel of Brent is listed with 1.5% increases at the close of the market in Europe and trades at 59 dollars. And in the currency market, the euro rises in value around 0.2% and changes to $ 1,0981.

TECHNICAL ANALYSIS

"The sale this Wednesday has no implications of any kind except, if anything, that we have closed away from the highs of the day and we have not been able to attack the new resistance zone that we have in the highs of this Tuesday (9,070). What leaves the door open for us to now test the strength of the 8,850 point support, "says José María Rodríguez, an analyst at Bolsamanía.

"If the correction were drilled, it could look for support levels close to 8,750 points (61.8%) - 8,800 (bullish hollow of the September 4 session). And still we would be talking about a proportional correction / adjustment of the entire rise since the minimum of August. However, the supports are much clearer if we look at our European neighbors, especially the two big futures (Dax and Euro Stoxx 50), "he adds.

"These gave us last week on Thursday interesting 'hammers' and therefore, to the extent that the minimums of said candle are not pierced in closing prices, we can continue betting on the continuity of the rebound. In general , almost all the major market indices / securities present support at the lows of last Thursday. That's where the key is, "concludes the analyst.