Spain IBEX readies for upmove. Accumulation nearing its end.
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.
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.
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.
After all, the main trend is still up, with no signs of stopping.
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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