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Sabadell titles are still in reaction

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The corrective phase of Sabadell of the last weeks fits absolutely within the normal parameters. At the moment it is a proportional adjustment of previous increases.

Technical analysis
END CORRECTION TO AN ALCISTA IMPULSE
END CORRECTION TO AN ALCISTA IMPULSE

Short term

Medium term

Long term

Whenever there is an occasion we like to remind investors what we say about what, in order to continue raising prices, they need their intermediate corrections. And this is what is known as a reaction phase. So the corrective phase of the last weeks comes, a priori, to proportionally correct / adjust the important previous increases. Action-reaction phase. Simply the price is adjusting the previous rises that led to the value from 0.70 to 1.10 euros. A 50% adjustment would lead to the title towards the potential support area of ​​0.90 euros, while a 61.8% decline in Fibonacci would lead to 0.85 euros. Above, on the resistance side, we have the most important in the December highs (1.10). Above it would confirm a new bullish momentum.

Daily chart of Sabadell since the end of 2018

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