The banks give in today ground before the fear that the sanctions imposed on Russia move to European banks. Banco Santander is the one that falls the most of the Ibex 35 banks in the mid-session, with a subtraction of more than 5.5%, at 2.9415 euros.
“We are seeing a situation that came from weeks agonot having been able to exceed its corresponding average of 200 sessions, as other Ibex 35 banks have recently done, has not been able to enter the next confluence zone, between 3.5 and 4 euros”, he points out José Luis Herrera, BiG analyst.
It has a key support zone, around 2.90 – 2.91 euros, which is playing today and also reached them at the lows of last week. But as long as he doesn’t break that level, he can get back on the upside.
“From a Fibonacci point of view, the last upward stretch is being seen more compromised,” explains the expert, but he would establish those 2.90 euros as a key level, which in case of losing could take the bank’s price towards the zone of 2.55 – 2.60 eurosa resistance that was overcome at the time and now a more relevant support zone.
Check here the technical indicators for Banco Santander.
