Today’s Spanish stock market ES35 technical analysis

Dear traders, if you’re seeking technical analysis for ES35 stock on today’s date, you’ve landed on the right platform. At Guriforex, we make sure to keep our readers informed about the latest market updates and provide comprehensive technical analysis setups. So, without any delay, let’s dive into our analysis.

Spanish ES35 market technical analysis
 

Stock ES35 Market Technical Analysis:

ES35, the Spanish stock market index, has been on a steady rise over the long term. However, recently, it encountered a significant shift in its trajectory. It hit the 261.8 Fibonacci level and swiftly breached a crucial trendline between two pivotal points.

🔽 Should the price breach the MA100 (Moving Average 100) and dip below the support level at 10850, a reversal is expected, leading to a potential drop to 10600.

🔼 Conversely, if the bullish momentum persists and propels the price upwards, ES35 could retest the resistance level at 11130.

💬 How frequently do you engage in index trading? Share your thoughts in the comments below! 👇

In simpler terms:

A trading idea has emerged for ES35, Spain’s stock market index.

ES35 has been on a long-term rise but recently hit a significant level and broke through an important trendline.

If the price falls below the Moving Average 100 and the support level at 10850, it might reverse and drop to 10600. On the other hand, if the buyers keep pushing the price up, it could reach the resistance level at 11130.

How often do you trade indices? Let us know in the comments! 👇

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