The Spain IBEX 35 Index INDEXBME: IB is attempting to breakout.
This stock market index has shown a very nice improvement recently.
Currently, we are seeing favorable momentum and the 40-week moving average is upward sloping.
This should bode well for upside in the days ahead.
Our target from here is 10000, about a +6% rise.
As always, risk should be managed. Only a sharp reversal back under the downtrend line would negate this opportunity (from my perspective).
Spain IBEX – 35 Index Chart
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