FTSE MIB, IBEX 35 Value Evaluation & InformationFTSE MIB | Uptrend Dented by Final Week’s ReversalIBEX 35 | Key Resistance Cu
FTSE MIB, IBEX 35 Value Evaluation & Information
- FTSE MIB | Uptrend Dented by Final Week’s Reversal
- IBEX 35 | Key Resistance Curbing Upside
- Fed Actions Outweigh Beijing Second Wave Issues and North Korean Tensions
FTSE MIB | Uptrend Dented by Final Week’s Reversal
The FTSE MIB had managed to curtail losses from the 38.2% Fibonacci retracement of the Q1 promote, which had additionally coincided with the 100DMA. That mentioned, whereas the index has managed to keep up its restoration from the March lows, the index stays capped on the 50% fib, due to this fact failing to shut the early March hole. Nevertheless, whereas the uptrend is broadly intact, final week’s wobble in danger belongings alerts that the FTSE MIB might wrestle to keep up a foothold above 20,000, significantly as considerations over a second wave of COVID-19 instances (in Beijing) rises.
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FTSE MIB Value Chart: Day by day Time Body
Supply: IG Charts
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IBEX 35 | Key Resistance Curbing Upside
The bounce again from final week’s reversal has examined its first hurdle within the type of the 38.2% Fibonacci retracement (7442). Nevertheless, whereas danger urge for food had been supported from yesterday’s Fed actions, key resistance might proceed to see IBEX 35 wrestle for additional upside as geopolitical tensions choose, most notably between North and South Korea. That mentioned, a detailed above 7600 might open the doorways for a renewed check of 8000.
IBEX 35 Value Chart: Day by day Time Body
Supply: IG Charts
— Written by Justin McQueen, Market Analyst
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