In view of the daily chart of our operator, we can see the impeccable pullback before the resistance, before support, of 6.37-6.38 euros.
What we can see in the daily chart of Telefonica It is an impeccable rebound in the form of 'pull back' to the most important resistance zone at this time: the one that was the decreasing support of the last months. Now resistance, hence we can talk about a manual pull back, from book to the most immediate resistance zone. That said, the truth is that the operator's titles are still very weak, not to mention the impeccable maximum and minimum decreases that the price continues to draw. In fact, we still can't rule out a fall towards what is the most important support at this time, the 2019 lows at 5.70 euros. With the permission of the intermediate support that we have in the 5.98 euros. Above, on the resistance side, we have the last decreasing maximum, in the vicinity of 6.40 euros.