❗ Warning sign on SPA35 ⛔

7:47 AM November 17, 2020

🚀 SPA35 rallied by nearly 30% in less than 3 weeks. Can the rally continue?

The Spanish index is among the biggest winners of the vaccine news. It makes sense – the Spanish economy has been hit extremely hard by the pandemic and with tourism playing such a vital role there it’s safe to assume that a return to normalcy would be great for the Spanish stocks. The question here is – isn’t this too much too soon? Vaccine news is great but it doesn’t ensure a smooth path to pre-pandemic lifestyle.

Technically, the index soared above June highs yesterday on the Moderna news but was unable to sustain gains and drew a daily falling star pattern. Traders should watch it carefully because a red session today could herald a correction.


Trading CFDs on a leveraged basis involves a significant amount of risk. They may not be suitable for everyone, so please ensure you fully understand all of the risks.

Forex and CFDs are leveraged products and can result in losses that exceed your deposits. Please ensure you fully understand all of the risks.

Losses can exceed deposits