( week21 ready for upside) (+200 points) week20 SPAIN IBEX D1 recaptures bullishness from previous day hammer

Spain IBEX readies for upmove. Accumulation nearing its end.

Naked Chartist

week19 IBEX D1 bullflag 080515

After a previous day of hammer. The bearishness was halted. Instead it could be seen as a chance to kickstart the resumption of the bullish trend.

D1

week20 Ibex D1 bullish day 090515

On Friday, just after the NFP data was released. price shot up and entry was made after NFP. It was a good move and by close of day a full bullish day was registered.

h4

week20 IBEX h1 awaiting retracement 090515

So in week20 , will  be looking for a bull flag to form for larger entries. There is a solid 52 weeks level that can be used as Strong support.

w1

week20 Spain IBEX w1 resistance turn support 090515

After all, the main trend is still up, with no signs of stopping.

updated 190515

After 1 week plus. price is still consolidated at a right shoulder. Price refused to breakout to the upside. Yet, price is still being defended by 2014 high, uncannily by many days of HAMMER.

A breakout is imminent. Need to have…

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