European indices are all closing higher on the day. The closing levels are showing:
- German Dax up 0.62%
- France's CAC +0.22%
- UK FTSE 100 0.92%
- Spain's Ibex +0.84%
- Italy's FTSE MIB, 0.50%
Looking at the daily chart of Spain's Ibex, the high price today tested its key 200 day MA at 8201.67. The high price today reached above that level at 8210.80 but could not sustain momentum and is closing below the MA level at 8166.49. Back in August the price moved above and closed above the 200 day MA for a single trading day before failing the next day. That started the run down to the low for the year at 7189.60.
Since the bottom (on October 13), the index has moved up 14.20%. The index is down -6.14% from the end of year level in 2021.
Spain's Ibex tests its 200 day MA and backs off