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Watch out! Acerinox is shaping a 'head and shoulders'

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The figure of bearish implications before us has not been confirmed, but it is true that this is impeccable, manual.

Technical analysis
SHOULDER SHOULDER SHOULDER
S1
9.36
S2
8.66
R1
9.98
R2
10.23

Short term

Medium term

Long term

As we like to always remember that we have the chance, we should never anticipate market movements. We have to wait for confirmation. That said, what we have before us is a potential 'head and shoulders' reversed of bearish implications for the steelmaker. But in theory it will only be confirmed by closing below the support of 9.36 euros. And if it is with an increase in volume better than better. If confirmed, a movement towards the support area of ​​approximately 8.70 euros (September maximums) may be considered as the most likely scenario. The only 'but' to corrective training is that it is manual, book. And experience has shown me on numerous occasions that when the figures are so clear, they tend to fail. Somehow the fact that everyone sees it is what makes it fail, because as they say in the stock market, what everyone knows is worth nothing.

Acerinox daily chart since the end of 2018

. (tagsToTranslate) Be careful! (t) Acerinox (t) is (t) giving (t) shape (t) & # 039; head (t) shoulders & # 039; (t) Category: All (t) Category: Market Report (t) Category: Technical Analysis (t) Category: Pulses (t) Category: Analysis (t) Category: Market Pulse (t) Category: Sectorial: Non-Energy Minerals



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