Ibex closes with a fall of 1.38% and is still on track towards Brexit lows

The Ibex fell with force this Thursday in its return to trading after the break of the Christmas holidays. After starting the day with a slight rise, it has not taken advantage of the historic rebound of Wall Street experienced in the previous session and the selective has closed the day dropping a 1.38% and, despite managing to save the barrier of 8,300 points After having fallen to 8,286, it continues heading towards the Brexit lows, located at 7,600 points.

Within the generalized losses in the Spanish selective, IAG, which has risen by 1.7% and Amadeus, which closed with a rebound of 0.9% were the only values that were saved from the fall and ended the session in green. On the contrary, Merlin Properties (-5.3%), Naturgy (-5.2%) and Acciona (-4%) fell the most.

All the blue-chips arrived in red at the end of the market with Repsol losing 1.6% after announcing that it waives its contracts in the service areas of the rescued highways, Telefónica falling by 1%, and Santander by 0.8. % and BBVA, 0.3%. Inditex managed to minimize losses, yielding 0.3% and continues to hold on to it's annual lows

In the Continuous Market strong rise of DIA (22.2%), which seems to continue its high volatility after leaving the Ibex this week and, on the opposite end, Pescanova dropped 10.7%.

TECHNICAL ANALYSIS

The analyst of Bolsamanía, J.M. Rodriguez, states the following: "When there are only two sessions to close 2018, our Ibex 35 drops 17% down the road, and every day that passes, it sets a new annual minimum. Europeans are going to close the year asking for the time, otherwise little more to add that we have not commented before. "

"Now we have as resistance the 8,600-8,630 points (before support) and as a support there is nothing until the minimum of Brexit, at 7,600 points.This does not mean that we have to fall for sure, we already know that prices move but experience tells us that under normal conditions we should return to the origin of the movement, at 7,580 points and, there, we would expect a strong rebound.

SALES BACK TO WALL STREET

The rest of European stock exchanges also recorded significant sales (CAC 40: -0.6%, DAX 30: -2.37, FTSE 100: -1.5%) despite the optimism that was felt at the open after the spectacular rise in the US indices on Wednesday, which had managed to boost the Asian, with Japan leading the increases with an advance close to 4%.

In the commodity market, oil lost more than 2% after its large increases in the previous session. The barrel of West Texas, reference in the US, falls 2.27% to 45.17 dollars while the Brent, reference in Europe, back 2.39% to 53.18 dollars. Finally, in the currency market, the euro increased in value 0.52% against the dollar, to 1.1412