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SBM TRADING BUY CALL ON IBEX INDEX AT 5903

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UPDATE –  Long trade closed @ 6190 for a nice 287pts.

We have added to our Trading Buy recommendations with a long position in anticipation of a corrective bounce from these levels in the Spanish Ibex Index @ 5903 – we have dropped almost 20% in a shade over 2 weeks and 10% in 3 days – historically an excessive move with good odds in our favour of a decent bounce.

The daily chart also displays a potential double bottom.

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