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Repsol has woken up: closes the weekly bearish gap and pulverizes the June highs


Last week the title was finally able to close / cancel the weekly bearish gap in March that it had attacked so many times without success. It is even surpassing the June highs as well.

Technical analysis

Short term

Medium term

Long term

We have been talking in recent months about the weekly bearish gap in March in stocks. Repsol. In all attempts to close it, without success. Until last week the miracle took place and the price closed it. Therefore from that moment on we have a new sign of strength. But it is that, in addition, has also dared with the maximums of June (9.19). From what it can be deduced that the oil company has woken up and is strong. In fact, corrections aside it would seem that the way is clear until the next great resistance: the Bearish gap at the end of February (10.90) which in turn coincides with the summer lows of 2019.

Repsol weekly chart

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