Banesto from the medium term describing a bearish channel, placing the quotations on the support of 4.65 euros.
The contact support reaction generated a movement upward, escaping the downward channel, standing against the resistance of 9.40 euros, giving shape to a figure double top, starting a corrective process, going back approximately 61.8% of previous upward momentum, reaching the 6.00 euros, giving way to a bullish channel.
Upon the support at the base of the channel, has reacted strongly upward, attacking the downtrend line that appears in the channel bass, a level still really important, and not easy to overcome.
From the technical point of view, overcoming the closing prices of the level discussed in the previous paragraph, would confirm the bullish target then the next important resistance at 9.40 euros.
First support that we are located on a 7.30 euros, a level where the value could correct positions in the coming sessions, with the intention of returning to test the resistance zone. But the loss of the level mentioned above, back to the ground confirm the bullish channel.
We have the RSI located near the overbought level, showing some reduction in the upward pressure, indicating the need to correct positions.
Furthermore Stochastic slightly corrected positions, confirming the weakness in the prices, to attack the uptrend line.
Random Posts
Posted in Financial Tips and Info | 
Tags: Banesto, bullish channel, channel bass, resistance, rsi, stochastic, support, volume