week51 Spain IBEX D1 retests neckline with bearish abandoned baby

Global stocks is in bearish mode now.


Spain IBEX shows a compelling topping chart pattern.
Price has done a flush over last year high, turning down.
There was also a power bearish week which suggested the bear trend has started.

week51 Spain ibex d1 imminent downmove 201215

zoomed in d1 chart

With a zoomed in version, a head and shoulders retesting the resistance trendline can be seen. The neckline of this hns is perched on 2013 high+ psychological level of 10000.

In week49 , this level has been smashed. In week50, the price action to validate the flip from support to resistance was an uncommon bearish abandoned baby candlestick pattern.
I have storng conviction to short European markets as well as to long EUR cross currencies.

week51 Spain ibex d1 hns bearish abandoned baby 201215


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