After several days of volatile trading in the European stock markets instigated by troubles with Portugal's government and the threat of a break between Greece and the troika, a relative calm has returned. The euro group met yesterday during a a more relaxed climate.
The Greek government and the troika came to an agreement after the costs of a new aid packet for Greece was determined and the Portuguese politican crisis was solved. The Ibex also fared well as it topped 8,000 points for the seventh time this year.
The Spanish stock market will struggle to break this upward resistance and probably cannot drop beneath 7,500 either. This indicates that while operating within these price ranges, in order to make money traders will have to sell when the markets reach resistance and buy when they fall to supports.
