The Ibex closes with a fall of 0.16% but manages to hold on to 9,600 points
Its long-term trend remains bullish from a technical point of view
The Ibex 35 has taken a break. The Spanish selective has fallen 0.16% on Monday, but manages to hold on to 9,600 points (9,659). The investor collects some earnings and the European stock exchanges rest before continuing with the Christmas rally. The two great uncertainties of the markets, Brexit and the trade war, have been largely cleared up and market participants celebrate it.
IBEX 35
11.435,700
-
-0,28%-31,60
- Max: 11.474,90
- Min: 11.399,10
- Volume: -
- MM 200 : 11.294,32
On the one hand, the market expects China and the US to seal the long-awaited 'phase one' agreement in early January. On the other, Boris Johnson made the first safe step towards his desired Brexit in the British Parliament last Friday.
Within the Spanish selective, Ferrovial is the main news. The listed company of the Ibex has announced the closing of the sale of its subsidiary of Services in Australia, Broadspectrum, for 303 million euros. However, this operation will result in losses of 270 million in its accounts. After this news, their titles have risen 0.93%.
In the continuous market, the focus has been on Sacyr, which has registered a 1.76% rise after snatching a contract in Italy from Atlantia. Also in business, but in the United States, Boeing shares rise 2 , 5%, at the close of the market in Europe, after the changes in the leadership dome generated by the 737 MAX crisis.
Following in Europe, the cabin workers of the German airline Lufthansa have threatened to go on strike on a Christmas holiday. In turn, the Italian industry minister opened the door on Sunday for the Chinese technological giant Huawei to take part in the 5G business in the Alpine country. In addition, Bayer has rebounded 3% in the Frankfurt parquet after the US has asked to reverse a fine of 25 million.
Finally, in the market of raw materials, the barrel of Brent is listed with slight increases at the end of the day in Europe, to around 66 dollars; While in the currency market, the euro increases in value and trades at $ 1.1094.
TECHNICAL ANALYSIS
"The narrow lateral movement of the last week continues its course. And the truth is that we can expect anything in the short term, both a return to the support area of 9,470-9,500 points (bullish hole) and an attack on the zone of resistance that it presents in the upper part of the bullish channel, now in the 9,900 points ", indicates José María Rodríguez, analyst of 'Bolsamanía'.
"The only thing that does not convince me in the very short term is the strong daily overbought that the oscillators throw at the moment, such as the stochastic. This, which is a very overbought level, could take a small and deserved rest," he adds.
"Either in the form of a correction or, simply, deploying a lateral movement (consuming more time than anything else). That said, the truth is that the trend has remained bullish since last August, or so indicated by the impeccable increasing minimums and maximums since then, "concludes the analyst.
