IBEX 35 Elliott Wave Analysis - Trading Lounge Day Chart.
IBEX 35 (Spain) Daily Chart Analysis.
IBEX 35 Elliott Wave technical analysis
-
Function: Counter Trend.
-
Mode: Corrective.
-
Structure: Gray Wave 2.
-
Position: Orange Wave 3.
-
Direction (next higher degrees): Gray Wave 3.
-
Details: Gray wave 1 appears completed; gray wave 2 within orange wave 3 is active.
-
Wave cancellation invalidation level: 10,289.18.
Analysis overview
The 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
-
Gray wave 1 appears complete, paving the way for gray wave 2 to progress as part of the larger wave structure.
-
Within the Elliott Wave framework, wave 2 typically represents a counter-trend retracement, characterized by periods of consolidation or price correction.
-
The ongoing corrective phase within orange wave 3 suggests the index may experience a temporary dip before resuming an upward trajectory in subsequent phases, particularly within the higher-degree gray wave 3.
Key level: Invalidation threshold.
A crucial invalidation level is established at 10,289.18:
IBEX 35 Elliott Wave Analysis - Trading Lounge Weekly Chart.
IBEX 35 (Spain) Weekly Chart Analysis.
IBEX 35 Elliott Wave technical analysis
-
Function: Bullish Trend.
-
Mode: Impulsive.
-
Structure: Orange Wave 3.
-
Position: Navy Blue Wave 3.
-
Direction (next higher degrees): Continuation of Orange Wave 3.
-
Details: Orange wave 2 appears complete; orange wave 3 within navy blue wave 3 is active.
-
Wave cancellation invalidation level: 10,289.18.
Analysis overview
The 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
-
The completion of orange wave 2 has enabled the continuation of orange wave 3, which is typically one of the most significant and powerful phases in the Elliott Wave sequence.
-
This phase often signals notable price increases, as wave 3 carries the strongest movements in the direction of the trend.
-
Positioned within navy blue wave 3, the ongoing orange wave 3 further reinforces the positive outlook for IBEX 35, indicating a continuation of bullish momentum.
Key level: Invalidation threshold.
The invalidation level is set at 10,289.18:
-
If the IBEX 35 index falls to or below this level, the current wave structure will be invalidated.
-
A drop below this threshold may signal a pause or reversal in the upward trend, necessitating a reassessment of the Elliott Wave structure and overall trend direction.
This threshold is critical for confirming the continuation of the bullish trend and identifying any potential disruptions to the wave structure.
Summary and recommendations
The 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 Awais.
IBEX 35 Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD stays pressured toward 1.0500, US PPI data next in focus
EUR/USD remains heavy toward 1.0500 in the European session on Thursday, hanging at yearly lows. The Trump trades-driven unabated US Dollar demand and tarrifs threat weigh on the pair. Mixed Eurozone data fail to lift the Euro. Eyes turn to US PPI data and Fed Chair Powell.
GBP/USD holds losses near 1.2650 on relentless US Dollar buying
GBP/USD is holding losses while flirting with multi-month lows near 1.2650 in European trading on Thursday. The pair remains vulnerable amid a broadly firmer US Dollar and softer risk tone even as BoE policymakers stick to a cautious stance on policy. Speeches from Powell and Bailey are eyed.
Gold price approaches 100-day SMA/50% Fibo. confluence amid sustained USD buying
Gold price touches its lowest level since September 19, around $2,550 area during the early part of the European session on Thursday. The US Dollar buying remains unabated in the wake of optimism over the expected expansionary policies by US President-elect Donald Trump.
XRP struggles near $0.7440, could still sustain rally after Robinhood listing
Ripple's XRP is trading near $0.6900, down nearly 3% on Wednesday, as declining open interest could extend its price correction. However, other on-chain metrics point to a long-term bullish setup.
Trump vs CPI
US CPI for October was exactly in line with expectations. The headline rate of CPI rose to 2.6% YoY from 2.4% YoY in September. The core rate remained steady at 3.3%. The detail of the report shows that the shelter index rose by 0.4% on the month, which accounted for 50% of the increase in all items on a monthly basis.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.