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The IBEX 35 is consolidated in bullish trend and above the 10000,0 level

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The IBEX 35 is maintained above the 200 SMA on the daily chart and it’s expected that the bullish trend will continue to strengthen.

The IBEX 35 has managed to break the strong resistance level of 9975.9 with a long bullish candlestick. Now, it is very likely to turn consolidates above the level of 10175.00, as the strength of the bulls is very present in the IBEX 35. However, in the smaller charts you can see some overbought levels, so we need to wait for the formation of some bullish patterns on H1 H4 chart or chart to keep placing buy orders in the IBEX 35.

The MACD indicator is still in positive territory, keeping alive our bullish outlook in the medium term to the IBEX 35.

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