The bears, about to take control of the markets

The conflict in Ukraine has become entrenched and the markets are aware of this. The sanctions being considered against Russia by the European Union and the United States intersect with the cyberattacks suffered by Ukrainian institutions, while the country’s government decrees a state of emergency and prepares for a military intervention.

The confusion has once again weighed on investors, which resulted in the closure of the main stock markets of the Old Continent with slight falls. The EuroStoxx 50 lost 0.3% in the session this Wednesday after its flat price on Tuesday, due to the lack of data on the scope of the consequences on the economy of the Old Continent in the face of a possible cut in the Russian fuel supplywhich would trigger energy prices.

Along the same lines was the Ibex 35, which despite reaching over 8,600 points in the middle of the session, finally closed at 8,440 points and a cut of 0.63%. The pattern was maintained in the rest of the European markets -with the exception of the London stock market, which once again showed its strength by rising a brief 0.05%-, although the Milan and Paris stock markets have remained above their respective supports, taking into account to the technical data prepared by the Ecotrader adviser, Joan Cabrero. Of course, the French Cac 40 each time it costs more to stay afloat -it is located less than half a percentage point from its purchase zone at 6,750 points- as in the case of the Ftse Mib, 0.8% from its support.

The barrier that Cabrero marked to not give control to the supporters of the sales went through a “counterattack” of the EuroStoxx and its reconquest of the 4,000 points (it closed at 3,973) so the falls are a clue “everything but bullish”, according to the Ecotrader expert”. As it was not achieved, the Ecotrader analyst moves to the weekly closing of the markets before making a decision regarding whether or not to reduce exposure to equities.

In this climate, 30 Ibex stocks remain sheltered on their respective supports, which means that in the last 24 hours only three more have exceeded your first level to take positionsbased on the technical data prepared by the Ecotrader adviser, Joan Cabrero.

Thus, after the falls in the Banco Santander stock market, which fell by 1.3%; Red Eléctrica -which lost 1.8%- and Indra, which suffered the greatest correction in the last session, joined Bankinter and PharmaMar. In the case of Indra, it even pierced its second support at 8.6 euros, closing at 8.34 per share.