Categories: Technical analysis

Spain35 Wave Analysis 22 March, 2021

• Spain35 reversed from resistance level 8675.00

• Likely to reach support level 8200.00

Spain35 index continues to fall steadily after the price reversed down from the key resistance level 8675.00 – intersecting with the upper weekly Bollinger Band and the wide weekly up channel from last year.

The downward reversal from this resistance level stopped the previous weekly ABC corrective wave (2) from the start of 2020.

Given the bearish divergence on the weekly Stochastic indicator – Spain35 index is likely to fall further toward the next support level 8200.00.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team

Recent Posts

Solana Wave Analysis – 5 December 2025

Solana: ⬇️ Sell - Solana reversed from resistance zone - Likely to fall to support…

9 minutes ago

EURAUD Wave Analysis – 5 December 2025

EURAUD : ⬇️ Sell - EURAUD broke the support level 1.7600 - Likely to fall…

10 minutes ago

Forex has set its priorities

In 2026, experts favour the yen, see modest euro growth, and expect pressure on the…

4 hours ago

Bear market rebound in crypto is likely to continue

Crypto rebounds continue; Bitcoin faces resistance, with a mixed market outlook ahead, as regulatory changes…

5 hours ago

Coca-Cola Wave Analysis – 4 December 2025

Coca-Cola: ⬇️ Sell - Coca-Cola reversed from long-term resistance level 73.25 - Likely to fall to…

19 hours ago

DraftKings Wave Analysis – 4 December 2025

DraftKings: ⬆️ Buy - DraftKings reversed from support zone - Likely to rise to resistance level…

19 hours ago

This website uses cookies