Medium term view - IBEX 35 : The moving average is capping prices.
The support has been broken, the trend becomes negative as we now have a succession of descending peaks and troughs.The next target is at 8,500.00 pts. The invalidation level is above 10,643.00 pts.Arguments :
- The 38% retracement has been passed.
- The moving average is capping prices.
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