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Repsol is consolidating within an impeccable bearish channel

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Since Repsol turned at the important resistance, previously support, of 11 euros, the price has been consolidating / adjusting the previous rises proportionally within a small manual bearish channel.

Technical analysis
BEAR CHANNEL

Short term

Medium term

Long term

From the important resistance zone of the 11 euros in the titles of Repsol we have spoken at length on numerous occasions over the past weeks / months. We therefore know that exceeding this level, with ease, would activate a new and important signal of strength in value. Meanwhile, what we have is a consolidation of manual, book levels. A proportional adjustment of previous significant highs within a bearish channel Short-term. One could even speak of a '"flag". The truth is that the rise in the price of it would be a warning to sailors that the title wants to attack again the resistance of 11-11.15 euros, with a higher probability of success on that occasion. If confirmed later, the next upside target is found in the range of 11.80-11.95 euros. Below, on the support side, we have 9.85 and the range of 9-9.20 euros.

Repsol weekly chart

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