IBEX 35 (Spain) Daily Chart AnalysisIBEX 35 Elliott Wave Technical Analysis
Analysis OverviewThe IBEX 35 Elliott Wave analysis on the daily chart by Trading Lounge indicates a counter-trend movement within the Spanish stock index, which is currently in a corrective mode. The analysis highlights that gray wave 2 is developing within the broader orange wave 3, signaling a corrective phase. This stage suggests a pause or temporary reversal in the broader upward trend, reflecting a shift in momentum.Wave Details
Key Level: Invalidation ThresholdA crucial invalidation level is established at 10,289.18:IBEX 35 (Spain) Weekly Chart AnalysisIBEX 35 Elliott Wave Technical Analysis
Analysis OverviewThe IBEX 35 Elliott Wave analysis on the weekly chart by Trading Lounge highlights a bullish trend for the Spanish stock index, supported by an impulsive wave structure. Currently, orange wave 3 is advancing as part of the broader navy blue wave 3, suggesting sustained upward momentum in the IBEX 35 as the wave structure unfolds.Wave Details
Key Level: Invalidation ThresholdThe invalidation level is set at 10,289.18:
This threshold is critical for confirming the continuation of the bullish trend and identifying any potential disruptions to the wave structure.Summary and RecommendationsThe weekly analysis presents a bullish outlook for the IBEX 35, with orange wave 3 actively progressing within navy blue wave 3, signaling further upward momentum. Traders should monitor the index closely in relation to the invalidation level at 10,289.18, as any movement below this point could challenge the current bullish wave structure. This level serves as a crucial checkpoint to validate the strength and continuity of the ongoing trend.Technical Analyst: Malik AwaisMore By This Author:
