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BBVA attacks the bearish guideline since the beginning of 2018



BBVA is one of the strongest 'blue chips' in our market. In fact, the weekly bearish gap in March has long been closed / canceled. Reference that is currently attacking the Santander.

Technical analysis

Short term

Medium term

Long term

In recent times, we have spoken numerous times of the relative better performance of BBVA compared to its most direct competitor, Santander, and also compared to the financial sector average. And proof of this is that it has been one of the values ​​that before has been able to close / cancel the weekly bearish gap in March. Even much earlier than other securities from very different sectors. And it is now when the Cantabrian entity is trying to close the weekly downward gap in March, which if you remember was at 3.82 euros from BBVA. This has been part of history for a long time. And now the resistance zone to beat is found in the straight resistance joining the decreasing highs since the beginning of 2018, in the approximately 4.50 euros. And below, as the main support (although very far from the current levels) we have the weekly bullish gap of 3.17 euros.

BBVA weekly chart

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