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Repsol sets course for the 2019 lows weighed down by the oil crash

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In recent weeks we are attending a hard blow in the titles of our oil company. What leaves the door open to very short-term rebounds.

Technical analysis
ABANDONMENT SUPPORT

Short term

Medium term

Long term

The titles of Repsol they are experiencing a hard corrective since the 'confirmedhead and shoulders'and from the highs of the beginning of the year the oil company accumulates a fall of almost 15%. Bounces apart, as the price has been left numerous bearish holes along the way pending filling, everything suggests that it will test the important support it presents in 2019 minimums: 12 euros (adjusted the price series to dividends distributed). Or in other words, if I am thinking of entering the title it is in the surroundings of 12 euros where it makes perfect sense to try and jump into the pool (with 'stop loss' below and in weekly candles). Above, on the resistance side, the most important at the moment is in the bearish hollow of 13.10 euros. It goes without saying that the strong correction of our oil company is intimately related to the collapse of the oil of recent times, which seems to be directed without remission towards the $ 56 support (for the barrel type Brent).

Repsol daily chart since March 2018

. (tagsToTranslate) Repsol (t) sets (t) minimum (t) heading (t) 2019 (t) weighted (t) crash (t) oil (t) Category: All (t) Category: Market Report (t) Category : Technical Analysis (t) Category: Pulses (t) Category: Analysis (t) Category: Market Pulse (t) Category: Sectorial: Energy Minerals



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