You can buy the Spanish stock market with a 'stop' at 8,885 points on the Ibex

1. Ecotrader.es

"The photo that we see after the resistance break invites us to be optimistic for 2021, but that does not mean that we have to go crazy buying the stock market, since for the latter the best thing to do is wait for the latest rises to consolidate" , continues the expert from the investment strategies portal of elEconomista.

"We have gone from being oversold a few weeks ago, which we took advantage of to open numerous buying strategies, to being overbought, which invites us to have a head. The supports that should not be lost if we want to continue trusting in higher rises They are 8,885 on the Ibex and 15,800 on the DAX. As long as they are respected, aim towards objectives, "he adds.

Going back... to gain momentum

The falls that we saw during the last sessions can be considered what in technical analysis is known as a throw back or going back to test the old resistance zone, now support, of the 9,000/9,055 points, "but the weakness of the Ibex 35 continues to surprise us, something that forces us to be aware of supports", explains Joan Cabrero.

"In this sense, a scenario of strength and higher increases will continue to be the most probable as long as an eventual fall does not lose support that the Ibex presents at 8,885 points", concludes the strategist.

Calm in the session

Calm reigns in the stock markets at the start of the week, with a practically flat session in Asia and with an equally calm sign in Europe and on Wall Street.

Investors remain expectant about the impact of the withdrawal of stimuli, which the Federal Reserve began last week, and after the BoE kept interest rates at minimums.

The central banks avoided pressing the tapering accelerator, and the companies themselves, which are presenting their results for the third quarter of the year, are widely beating already high expectations. This has allowed the fears of galloping inflation that is hitting growth to continue, at least one more week, hidden under the stock market rug.

Meanwhile, last week the all-time highs from Wall Street and from Lehman Brothers in the case of the Old Continent were revalidated.

BoE surprise

The Bank of England surprised everyone last week by holding interest rates at 0.1% when discounting a 15 basis point rise in money prices .

This triggered a spate of British bond purchases, which pushed the 10-year benchmark from 1.20% yield two weeks ago to 0.91% today, the minimum required since the end of September.

Also in the rest of the markets, investors bid for sovereign bonds, leaving the T-Note up to 10 basis points below a week ago (at 1.52%) and the German Bund at 0.24% negative, from -0.10%, and the Spanish bond at 0.4%, from 0.63%.

Oil hits highs

OPEC+ left the supply of crude oil intact in the market and the rises for a barrel of Brent and West Texas returned, both above 80 dollars, in the zone highest since 2014.

Different sources collected by Bloomberg point out that it is unlikely that OPEC and its allies will change their position, reflecting Saudi Arabia's decision to increase official sales prices.

Oil's rebound to a seven-year high has alarmed US President Joe Biden, who led consumer calls last week for OPEC+ to speed up the pace of revival of supplies shut down at the start of the pandemic .

Despite his plea, the alliance opted to stick with a rate of 400,000 barrels a day.