The Ibex advances 1.12% in the week and looks at the resistance of 9,700 points

After a very quiet week, and after rebounding this Thursday, the Ibex has risen strongly this Friday (+ 1.14%). With this rebound, the Spanish selective has accumulated an advance of 1.12% in the week that has allowed it to be very close to the resistance of 9,700 points (9,681).

Almost all Ibex securities have traded in green. Ence (+ 7.46%) has been the most prominent and extends its rally after ensuring the sale of its production throughout the year. Strong increases also for IAG (+ 5.27%), after the veto to shareholders outside the European Union has been eliminated.

One more day, investors have been very aware of Deoleo. The company's titles, which are tremendously volatile during the last sessions, have risen 6.67% after its restructuring has been approved to avoid bankruptcy.

STRONG MACRO DATA IN CHINA

During the night a series of macro references have been published in China that confirm, according to experts, that the economic outlook has hit rock bottom and that they have taken Asian stocks to a mixed closure. GDP grew 6% year-on-year in the fourth quarter, unchanged from the previous quarter. Both industrial production and retail sales surprised upwards with 6.9% and 8.0% annually, respectively.

As for other data of the day, today the inflation of the Euro Zone in December has been published, which rebounds to 1.3%, its biggest increase since June.

For the rest, experts point out that US stock exchanges have reacted better than European ones after the signing of the 'first phase' agreement. At the same time, they point out that the new historical highs in the United States and the positive session in Asia are propitiating this Friday's rises in Europe.

"Part of the reason for the poor performance of markets in Europe is the weak nature of any recovery in the region, and some concern that President Trump can turn his attention to Europe on the trade front. If the EU sought to maintain a Low profile in this regard, it certainly has a fun way to prove it after the EU trade commissioner, Phil Hogan, has criticized US trade policy for being short-term and focusing only on winning the next election.

The EU has also declared that they will go to the WTO if the preliminary agreement signed between China and the US generates 'trade distortions' to the detriment of Europeans, "says Michael Hewson, director of analysis at CMC Markets in London. Hogan has also addressed the Prime Minister of the United Kingdom, Boris Johnson, for his insistence that the term of this year's transition period be not extended, accusing him of 'brinksmanship' (of making confrontation policy).

TECHNICAL ANALYSIS

"The market has woken up and has done so after filling in its entirety and to move towards the upward gap of 9,468 points. Daily momentum oscillators such as the stochastic movement have turned upward from important oversold levels and if we are able If you clearly confirm above 9,700 points in closing prices, you can bet on a new upward momentum towards 10,000 points, "said the analyst of Bolsamanía, José María Rodríguez.

"And below, what has confirmed our selective is that the support is what it is and is where it is: the bullish hollow of the December 13 session that has been filled in completely, but not closed. Then regarding the implications, the bulls are still intact. Below, on the side of the supports, the most immediate we have in the bullish opening of this morning's opening at 9,570 points, "concludes this expert.