There is zero logic behind the last weeks rally!
A thousand point rally in the weakest economic period that Spain has seen in the last 20 years.
11% from Spain’s GDP is depended on tourism as its the second most visited country in the world.
Local economy represents almost all else and all is connected to foreign money arriving from overseas.
Spain can forget about 2020 and possibly focus on 2021.
The Index has no reason to climb & investors have no reason to long it.
POSITION IS A SHORT
INSTRUMENT – IBEX 35 FUTURES CFD CONTRACT
POSITION LEVERAGE 1-TO-100
POSITION VOLUME 10 CONTRACTS – 1000 UNITS
ENTRY RATE – 7,726€
POSITION MARKET VALUE = 7,726,000€
MARGIN REQUIREMENTS – 1% FROM POSITION VALUE = 77,260€
FREE MARGIN TO STOP OUT = 2% FROM POSITION VALUE = 154,520€
TAKE PROFIT – 7000€
SPREAD – 726 POINTS
EST PROFIT 726,000€