For many months we have been warning of the strength, within the downward trends of the Basque entity, regarding the Cantabrian entity.
Within the two titles of our country are immersed in an impeccable downward or primary downward trend, in recent months we are appreciating a greater strength in the titles of BBVA with respect to those of Santander. In fact, in the case of the Basque entity we can see how the price is not only embedded within a short-term bullish channel since the August lows, in addition has been able to leave the bearish guideline behind and jump above the November highs: the last decreasing maximum. Now, corrections aside, it can be said that it no longer has draft resistance up to the annual maximums at 5.55 euros.
While if we look at the titles of the Cantabrian entity, not only is it not able to overcome the resistance conferred by the last decreasing maximum (3.94), it is also not able to leave the homologous bearish guideline behind to the one presented by BBVA and which it has recently left behind clearly. What can be deduced from this graph is that Santander has an important resistance zone in the range between 3.95-4 euros. And as long as it does not break easily, we will not have the slightest sign of strength beyond the typical bounces against trends.
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