Technically the situation remains complicated, since despite the weekly upward divergences the decreasing highs and lows remain intact.
This morning we had breakfast with the news that the capital increase of IAG is fully subscribed by Qatar. And at the moment the news is not being well accepted by the market. From a graphics point of view nothing is clear, the signals are quite erratic and complex. The title is clearly bearish in terms of medium and long term, there is no doubt about that. We have weekly bullish divergences and this is actually the only thing to hold onto at the moment. But at the same time we continue to have impeccable decreasing highs and lows, which is nothing more than the simplest definition of what a downtrend is. And so it does not go up, which is independent of the important rebounds that sometimes occur (reaction phases). It is clear that to the extent that we do not have a figure back to use, we can not trust the title even if it sometimes rebounds strongly.
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