The Ibex rises by 0.27% and continues its progress towards resistance of 10,210 points

The Ibex 35 is saved from the losses that have led the indices of the Old Continent on Tuesday. At the close of the session, the Spanish selective has rallied slightly to end the day with a rise of 0.27%, which manages to stay above 10,100 points (10,168), and continues its progress towards its key resistances.

IAG closed as the most bullish value on Tuesday, rising 3.8%, and has reached record highs by touching the 7,986 euros, above its latest highs of November 2015, at 7,942 euros. Also in green, Grifols stood out, with a rise of 2.97%, and Sabadell, which rose by 1.61%.

On the other hand, Red Eléctrica has led the declines and has dropped 0.8%, followed by Repsol, which has lost 0.71% after its historical highs yesterday, and Enagás, which has fallen 0.66%.

In red at the close we also find Endesa (-0.1%) after submitting its quarterly accounts this Tuesday. The power company gained €372m in the first quarter of the year, 47% more. Revenues of the power company have fallen in the period by 1%, to 5,169 million. The company explained that the improvement observed in these accounts has a lot to do with the comparison with a 2017 in which "very negative market conditions" were registered in Spain.

Another of the values ​​that has been news has been ACS (0%), whose president, Florentino Perez, has announced that he will shoot his benefit by 35% and his dividend in 2019 after taking over Abertis.

In the main board, Solaria (+ 8.62%), Audax (+ 7.07%) and Oryzon Genomics (+ 5.49%) have excelled. The latter has announced that it has received approval in France to advance in ORY-2001, in patients with Alzheimer's disease.

Outside our country, Deutsche Post has dropped almost 7% on the stock market after disappointing with its quarterly results.

PETROLEUM, TRUMP AND IRAN

Regarding oil, today it's falling after setting 2014 highs. The West Texas falls more than 3.5%, to just over $68 ($68.2, 5%), while the Brent is close to $74 (-2.95%, $73.92). Investors are very interested to what may happen with the nuclear agreement with Iran. The deadline for Donald Trump to make a decision about it ends this Saturday and the president of the United States published a tweet in which he hasbrought forward his intention to announce his decision on the agreement with Iran to today.

I will be announcing my decision on the Iran Deal tomorrow from the White House at 2:00pm. — Donald J. Trump (@realDonaldTrump) 7 de mayo de 2018

In terms of the data agenda of the day, few notable references. Germany's industrial production rose 1.0% in March from the expected 0.8%. March exports increased 1.7% against the estimated 1.8%. In addition, the president of the Federal Reserve (Fed), Jerome Powell, has spoken, and has indicated that higher rates will not be able to risk the global economic conjuncture.

TECHNICAL ANALYSIS

According to Jose Maria Rodriguez, technical analyst of 'Bolsamanía', the interesting thing of this session has been the maximum that has marked the Ibex in the 10.180 points, which means that it has "caressed" the important weekly bearish hollow of the 10,210 points, where the resistance is. Rodriguez believes that the index should close above this figure at closing prices on a Friday, because it is a weekly bearish gap. From below, in the supports, the most immediate is 9,940-9,950 points, before resistance.

As for the rest of the European indices, they continue to be strong, more than our selective. "Unless things change a lot, the annual maxima that were reached at the end of January will be visited sooner rather than later," says the analyst. For concrete values, Rodríguez highlights the historical highs of yesterday in Repsol and those of today in IAG. On Telefonica, he thinks that "for the moment, he is being able to respect the support of 8.25 euros, and while that is the case, we do not rule out a movement towards resistance of 8.6 euros". Regarding banks, he highlights BBVA, "which presents an important resistance around the corner, at 6.85-6.90 euros."