- THE IBEX falls back after bottoming in the session on Friday the extension of Santander
- The falls are given in a growing climate of uncertainty and the need for a QE
- The bass volume press the Ibex had not been seen since 2013
After the collapse of the stock Spain on Friday, the IBEX trying to stand and recover without much success. We must remember that the reason for the falls originated in banking, where the Banco Santander announced a mega capital at a deep discount that dropped about 14% that day. The expectations for rebounds bullish today were, in fact, Santander and recovered 2.5% fall throughout the morning, however, was not able to sustain due to the complex critical stage which faces all Europe has not undergone any changes.
The policy in Greece, ECB passivity and low inflation growth are factors that even desperate traders seeking alternatives in the euro area, and will be hard to see rallies solids such instruments if reality does not suffer variations forth above. The bears continue to control the market, and the next downside target could be 9500.
Finally, from a technical standpoint, the instrument is facing strong selling pressure since 2013, with an OBV in -89,869, which suggests falls until the next major support
. Technical Analysis:
Tools ESP35
Bias:
Bearish Time frame: D1
Resistance 1:
9791 Resistance 2:
9904 Resistance 3: 10199
Support 1:
9500 Support 2:
9424 Support 3: 9129
Next key high impact:
German GDP (YoY) 2014 Europe; Thursday 15 (4:00 a.m. New York time)
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