Do not lose sight of the supports: "It is rash to rule out that there may be another bearish scare"

The heterogeneous information about the real impact that the latest strain of coronavirus discovered, the omicron, may have is marking the evolution of the markets in recent hours. The gains of the European stock markets yesterday contrast with the red numbers that were registered in the US at the close of Wall Street.

A disparate behavior that seems to be prolonged in the coming sessions and that does nothing but give continuity to the behavior of the selective stock markets in Asia, where the Nikkei is the one that takes the negative part in today's session, while the Chinese and South Korean indices register increases.

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And it is that, to the intrinsic fears of the market such as the rapid growth of inflation or the withdrawal of stimuli by the Fed, the new variant of the Covid-19 discovered in South Africa has now been added.

In this context, and despite rebounds such as the one seen yesterday in the European selective markets, we must continue to monitor the supports of the European stock markets, specifically those presented by the EuroStoxx 50 at 3,900-4,000 points and the one presented by the German DAX 40 at 14,800 points , which is the one that stopped the falls in both May and October.

"We must bear in mind that the risk-return equation is more attractive the closer the indices come to these indicated supports, from where I expect a powerful rebound towards at least the 16,000/16,300 point area of ​​the DAX 40", explains Joan Cabrero, technical analyst and advisor to Ecotrader .

At this point, and taking into account the volatility of recent sessions, the Ecotrader expert clarifies: "If the DAX 40 were to lose the support of 14,800 points, I do not want them to see it as something that invites to close, but simply as an element that would provide us with valuable information from a technical point of view, and it is that, in the case of giving up that level, what it would indicate to us is that in the next rebound it is difficult for the highs of the year to be exceeded at 16,300 and before If it did attend, it is likely that the DAX would need to consume much more time or form a broader correction."

The case of the Ibex 35

In the case of the Ibex 35 and given the market outlook in recent hours , it is still too early to rule out the possibility that there may be another bearish scare that will take the Spanish selective to the 8,000/8,150 point zone, which is the base of the channel. that has been limiting its price in the last hours.