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IAG warms up: weekly bullish engulfing in sight?

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In the absence of knowing the close of the weekly candle, we do not rule out that the stock ends up drawing a weekly bullish envelope. Which would bring important rebounds in the short term.

Technical analysis
BEAR GAP

Short term

Medium term

Long term

We have recently analyzed the titles of IAG and we said of the same that despite not having any figure of return, at least we had a first rising maximum. That is no small thing. On the other hand the market seems to be discounting an imminent agreement between the European Union and the United Kingdom on Brexit. The fact is that in the absence of knowing the close of the weekly candle, it can be said that it could end up drawing a weekly bullish envelope that, under normal conditions, should give continuity to the rises in the short term. With a first target up the resistance of two euros and above the great weekly bearish gap in March at 2.62 euros. This level is actually the most important resistance to beat at the present time. This gap was filled in the violent rebound in June, but was never closed. Let's see if this new attempt is more successful.

IAG weekly chart

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