Expected Medium- and Long-Term Movement of the Spanish Index

The Spanish index is currently undergoing a bearish corrective move following a period of minor distribution.

The index is currently testing significant, strong daily levels, and strong price action is anticipated soon.

Expected Scenarios

There are currently multiple expected scenarios for the index:

The first scenario involves a rise from the current demand zones near 19,390, followed by a retest of the 20,000 level and subsequent resistance levels.

The second scenario involves a decline, contingent upon a break and close below the current demand zones; in this case, a test of the next demand zone near 18,359—as marked on the chart—is expected.