The price of Santander Bank outlines soil symptoms in the strictest short term. The advances registered over the last few days allow the incorporation, at this time, of a daily candle with a real green body, which denotes a dominance of short-term purchases, a situation that must be confirmed at the close of the session and that it would not take place since last June 15th. Simultaneously, the Stochastic oscillator profiles an upcoming bullish crossover after reaching oversold readings.
Banco Santander readings in the short-term Trading Machine
The brake on the falls leaves us a minimum with which to work the next sessions projected from 3.2115 euros per share, a level that is an approximation to the proportional Fibonacci retracement of 38.2% of all the last previous bullish impulse of medium term. On the positive side, a break of the next resistance of 3.3620 euros per share, would enable Banco Santander’s listing to update bullish targets towards 3.5090 euros per share. For its part, a breach of 3.2115 euros allows the opening of a scenario of downward continuity to 3.1365 euros, a level that is close to 50% Fibonacci and the 3.0415 / 2.9910 area. per share, which is close to 61.8% Fibonacci.
Banco Santander in daily chart with Trading Activity (window with blue background), Stochastic oscillator (window with green background) and Medium amplitude range (window with yellow background)
Santander Bank on daily chart with Trading Zone analysis template