Spanish stocks have been moving lower for several months.
But the more recent trend higher (rally) has seen the Spain IBEX 35 Index INDEXBME: IB breakout above its downtrend line.
And a recent retest of price support appears to be successful.
This should send this key Spanish stock market index higher.
Our initial price target for the IBEX 35 is 10000.
It could go even higher than that, but would require a strong close over 10000.
Spain IBEX 35 Index Chart
The author may hold positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
