Saturday, October 1

BBVA: Finds support in the bullish guideline

The price of the BBVA finds support in the main bullish guideline, the lows of last December 20 touched the guideline again creating a third touch or support.

The previous support and resistance area marked in a dashed line has served to halt the decline from annual highs.

Prices are attacking the short-term resistance located at 5,287 euros per share, its violation would represent a sign of strength by generating an upward trend of rising lows and highs.

The technical indicators are also favorable, there is a growing volume in the sessions of the end of November and the month of December, the MACD oscillator originated a strong oversold by supporting the main bullish guideline.

BBVA on daily chart with average width range (upper central window), MACD (lower central window) and trading volume (lower window)

BBVA on daily chart with medium and long-term analysis template

Reference-www.estrategiasdeinversion.com

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