IAG (Iberia) rises today within the IBEX 35, after the falls that we saw yesterday in tourist values, due to the new restrictions to try to contain the increase in infections caused by omicron, the recent variant of the coronavirus.
As explained analyst Ramón Bermejo, IAG continues to attempt to validate the bearish trap double bottom pattern. It is trying to overcome the critical level of 1.7175 and it is necessary to watch that it closes above, at 1.7180 in the daily close.
At the close of the session yesterday it showed a bullish reversal day pattern. If it hits 1.7385 today, above yesterday’s highs, we could see a two-day recovery.
“What I hope is that the market will seek in the first instance the 1.7385 level, which would be a 6.23% recovery and then a 14.96% recovery up to € 1.9885 goal“, says Ramón Bermejo.