Ibex35: Will it maintain its momentum after Jackson Hole?

23 Ogo

The Ibex 35 has started the week strongly, rising 0.7% and reaching 11,150 points, consolidating its position as the most bullish index in Europe in 2024 with a year-to-date increase of 10.45%. Surpassing 11,000 points reinforces the bullish trend of the Spanish market, and today it has broken 11,150 points. The RSI is oversold at 63.15%, and the checkpoint (POC) has remained near 11,100 points. However, the focus is on Fed Chairman Jerome Powell's speech in Jackson Hole, which could influence financial markets, especially monetary policies and debt developments. This speech will be key in determining whether the Ibex 35 maintains its momentum or experiences a correction, with the possibility of the index piercing the sideways range at 11,195 points at the close.

Ion Jauregui - ActivTrades Analyst





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