IBEX 35 (Spain) Elliott Wave Analysis Trading Lounge Day Chart.
IBEX 35 (Spain) Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Orange wave 3.
Position: Navy blue wave 3.
Direction next higher degrees: Orange wave 3 (started).
Details: Orange wave 2 of navy blue wave 3 looking completed. Now orange wave 3 is in play. Wave Cancel invalid level: 8,878.92.
The IBEX 35 Elliott Wave Analysis on the daily chart focuses on a trending market function, characterized by an impulsive mode. This indicates a strong and continuing movement in the trend's direction. The current wave structure under review is the orange wave 3, part of a larger impulsive movement.
The market position is identified as navy blue wave 3, suggesting a significant upward movement within the Elliott Wave framework. The next higher degrees point to the ongoing orange wave 3, indicating this impulsive wave is still progressing and has not yet completed.
A key detail in this analysis is the completion of orange wave 2 of navy blue wave 3. This marks an important transition within the wave structure, signaling the end of the corrective phase of orange wave 2. Consequently, the market has entered orange wave 3, an impulsive wave expected to carry the market higher, in alignment with the overall trend.
The wave cancellation invalid level is set at 8,878.92. This level is crucial for validating the current wave count. If the IBEX 35 falls below this level, it would invalidate the current wave structure, indicating that the anticipated progression from orange wave 2 to orange wave 3 is not occurring as forecasted. This would necessitate a reevaluation of the wave count and a new analysis to understand the market's direction.
Summary: The IBEX 35 Elliott Wave Analysis on the daily chart indicates a strong impulsive trend, currently within navy blue wave 3. The completion of orange wave 2 has led to the commencement of orange wave 3, signifying continued upward movement. The wave cancellation invalid level at 8,878.92 is critical for maintaining the validity of this wave structure and guiding future market expectations.
IBEX 35 (Spain) Elliott Wave Analysis Trading Lounge Weekly Chart
IBEX 35 (Spain) Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Sturecture: Orange wave 3.
Position: Navy Blue Wave 3.
Direction next higher degrees: Orange wave 3 (started).
Details: Orange wave 2 of navy blue wave 3 looks completed. Now Orange Wave 3 is in play. Wave Cancel invalid level: 8,878.92.
The IBEX 35 Elliott Wave Analysis on the weekly chart focuses on a trending market function with an impulsive mode. This analysis indicates a strong and continuous upward movement in the market. The specific wave structure under observation is orange wave 3, which is part of a larger impulsive pattern.
Currently, the market is positioned in navy blue wave 3, suggesting a significant rise as part of the broader trend. The direction of the next higher degrees points to the ongoing orange wave 3, indicating that this impulsive wave has started and is still progressing.
A critical detail in this analysis is the completion of orange wave 2 of navy blue wave 3. This completion marks an important transition within the wave structure, signifying the end of the corrective phase of orange wave 2. Consequently, the market has now entered orange wave 3, an impulsive wave expected to drive the market higher in alignment with the overall trend.
The wave cancel invalid level is set at 8,878.92. This level is essential for validating the current wave count. If the IBEX 35 were to fall below this level, it would invalidate the existing wave structure, indicating that the anticipated progression from orange wave 2 to orange wave 3 is not occurring as expected. This scenario would require a reevaluation of the wave count and a fresh analysis to understand the market's direction.
Summary: The IBEX 35 Elliott Wave Analysis on the weekly chart highlights a market in a strong impulsive trend, currently within navy blue wave 3. The completion of orange wave 2 has led to the beginning of orange wave 3, suggesting continued upward movement. The wave cancellation invalid level at 8,878.92 is crucial for maintaining the validity of this wave structure and guiding future market expectations.
Technical analyst: Malik Awais.
IBEX 35 (Spain) Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD fails to gather traction, remains below 1.1700
EUR/USD fails to gather momentum, trading below 1.1700 at the end of the week. The pair is pulled down by dwindling prospects for an EU-US trade accord, as US President Trump is expected to send a tariff letter to the European Union later today, while the continued demand for the US Dollar also keeps the risk complex under extra pressure.
Meme coins to watch as Bitcoin hits record high
Meme coins Bonk, Dogwifhat, and Floki are positioned to extend gains as the weekly recovery reaches crucial resistance levels. The meme coins gain bullish momentum on the back of Bitcoin’s (BTC) recovery run, hitting a new all-time high on Thursday.
Gold challenges two-week highs near $3,360
Gold gains upside impulse at the end of the week, trading near the $3,360 mark per troy ounce in respose to solid demand from te safe-haven space. Persistent trade uncertainty underpins the ongoing risk-off mood among investors, lending extra wings to the precious metal.
GBP/USD drops below 1.3500, flirts with three-week lows
GBP/USD continues its weekly retracement on Friday, trading at its lowest level in nearly three weeks below the 1.3500 support. The UK's poor GDP statistics drags on the British pound, while the US Dollar continues to profit from safe-haven flows, sending Cable and its risk-related peers to lower levels.
Week ahead – A storm of CPI data and China’s GDP in focus amid trade uncertainty
Dollar attracts safe haven flows amid trade anxiety. US inflation data could shake July Fed cut probability. UK, Canadian and Japanese CPI numbers also on tap. Weak Chinese growth may increase calls for more stimulus.
Best Brokers for EUR/USD Trading
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.