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Violent rebound of OHL within the huge bottom bearish ocean

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The important increases of this Thursday have found a brake in the important resistance that the price presents in the weekly bearish gap of 0.88 euros.

Technical analysis
BASS CHANNEL

Short term

Medium term

Long term

OHL It is a good example of what we sometimes remember about that an underlying can rise very strongly while remaining bearish for it in the medium and long term. And this is the case of OHL. The violent rebound of this Thursday has brought him suddenly to the important resistance that he presents in the weekly bearish gap of 0.88 euros. Closing it would be a clear sign of short-term strength. But, rebounds aside, the one that rules is the bottom trend and this is bearish. Very bearish. You just have to look at the title and realize that the title is embedded within an impeccable bottom bearish channel from the 2014 highs, it was then trading at 17 euros. So it is important to see things from a distance, with more perspective. Well the trend despite rising 50% today is impeccably bearish.

OHL weekly chart

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