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Santander: and now for the weekly bearish gap of February 2020

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Since the title left the bearish guideline behind it, it has not stopped climbing positions. It is true that he is doing it little by little, without making any noise but without rest.

Technical analysis
BEAR GAP
S1
3.04
S2
2.92
R1
3.5930
R2
3.7660

Short term

Medium term

Long term

Since the securities of the Cantabrian entity pulverized the bearish guideline with a large white candle (at the end of April) we have a before and after in the value. We have hardly seen corrections since then and this despite some other scare that has taken the market in recent sessions. In fact, it would seem that this has set course for the significant resistance it has in the weekly bearish gap at the end of February 2020 at 3.5930 euros. And above we have the prepandemic levels, which on the other hand has been able to overcome BBVA recently, at 3.7660 euros. From which it follows that the Basque entity is stronger in recent times than the Santander titles. Below, on the support side, we have 3.04 euros (February highs) and below the old bearish guideline, now at 2.90 euros.

Santander weekly chart since July 2016

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