Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Mexico IPC Index Prepares For Strong Breakout

Published 05/23/2016, 02:54 AM
Updated 07/09/2023, 06:31 AM

Mexico IPC index is possibly preparing for a strong breakout to all-time high levels. Over the past three years the IPC index tested the strong horizontal resistance for the 5th time. Since the beginning of April, price held close to the upper boundary. Last two months sideways consolidation can be a symmetrical triangle and a preparation for a breakout above 46,500 levels. 46,000-46,500 will act as strong resistance in the following weeks. A decisive weekly close above the resistance area can launch a multi-month uptrend for Mexico's IPC index. Breakdown below 44,500 can result in a lengthy consolidation.

Mexico MXSE IPC Index Weekly Scale

Mexico MXSE IPC Index Daily Scale

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.