Happy monday TRADERS,
In this section we want to track the core values that drive the IBEX. Please remember that we have a new canal en YouTube to which you can subscribe and send us your queries by the usual means of social network and email.
As we went forward in the post last Saturday index, last week we had a bug that took us out of the side ranges of the last three weeks in the indexes which was copied almost most values, and despite the recovery of Friday we have not come to annul falls, so you have to really look at the situation that leave us Blue Chips and that as always we will see in more detail below.
BBVA vs SAN
BBVA closed the week just below the resistance despite being under the minimum has in recent weeks, consider most important to regain the strength of 9'38, but as we can see the trend is well above, something above 9'50 what could perhaps be the beginning of a turn upward, anyway wait to see the start of week to see if it confirms the continuity correction, finds the following media increasingly closer 9 so could lead to your area try, taking the media on lows last week and 9’06. As the resistances as we say 9'38 and trend confirmation resistance 9'70 and 9'75.
SANTANDER last week lost the trend had maintained for more than two years, including the recovery Friday with most values braking just saw the trend so we'll have to see if it has been a pullback correction, we managed to recover the area, in principle recover the trend along with key 7.53 resistance seems to override the trend break, as we see coincides with the break of the downtrend we have been forming shorter term. Next resistances are back in 7.75 and annual maximum, and receives support from the lows of last week have 7'25 7’06, whose loss would lead us to test the 7, mm200 and perhaps that is close 7 exactly 6.98.
TELEFONICA
In TELEFONICA as we can see in the chart the loss of medium term uptrend has led us to lose 12 but we got them back Friday, and this leaves us a scenario that in the case of losing the support lows last week could lead to test the mm200 in 11'750 area to consider monitoring and short-term, with which we could test trends Nearby longer term average. As the trend we recover resistors rotation nullify, but confirmation would clearly if we exceed the maximum lateral range of recent weeks with the shorter-term bearish about the 12'40.
IBERDROLA
IBERDROLA continues to perform better than the rest of Blue and has demonstrated keeping intact the medium-term trend habiéndola recovered last Friday to close, acercase even without even the minimum in 5'48, whose loss we could accelerate the correction and sales could go at least test the next resistance at minimum in August 5'35. As the resistance 5.67 and 5'70 are the only resistance before returning back to maximum and at this stage it is normal to have confirmations found near yearly highs.
REPSOL
REPSOL was clear that we were losing 18'50 as noting the price and shows last week had weakened the Blue being more near the lows of week closed, proving even longer-term trend, key point for the start of this week, since the loss of this support minimum matching minimum July, media would lead us to try maybe below 18 and the tendency to have the mm200 in 17'950, and minimum in August 17'800, and following media already 17'600.
Inditex
Inditex mm200 after losing last week still has no interest although it seems that approaching August lows has regained some, because it took a major turn on Friday after hitting 21, area surveillance if we will again give us another opportunity to incorporate us as this value can be from those who may have more experience now and the end of the year, clearly recover provided the only resistance we want to mention that is the mm200 in 21'90, and to support these minimum that we indicated in last week's lows in 21 and then support and minimum in August 20'70.
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