TOTAL - BREAK OF THE 63 ?
After closing the session on Monday 26.08 up 1.13%, the share is now on a key level.
What's more, the downtrend line was broken yesterday.
The 63 level, which has acted as resistance for several sessions now, is once again under attack by investors. This level is also the one most traded by investors since the April-August period, with a POC of volume present on the 63€ level.
Despite fears about the end of the transit agreement providing for the delivery of Russian gas to Europe via Ukraine, which still represented 15 billion cubic meters (Bcm) last year. TOTAL has many reasons to be optimistic for the coming months/years.
Clearly, a break of 63€ would push the price towards 64.50€, as a first target for closing the gap between August 8 and 9.
70.11€ will remain the ultimate target for buyers, but they will need to be patient and relentless to reach this level before the end of the year.
Maxime Dominguez - Analyst at ActivTrades.
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
What's more, the downtrend line was broken yesterday.
The 63 level, which has acted as resistance for several sessions now, is once again under attack by investors. This level is also the one most traded by investors since the April-August period, with a POC of volume present on the 63€ level.
Despite fears about the end of the transit agreement providing for the delivery of Russian gas to Europe via Ukraine, which still represented 15 billion cubic meters (Bcm) last year. TOTAL has many reasons to be optimistic for the coming months/years.
Clearly, a break of 63€ would push the price towards 64.50€, as a first target for closing the gap between August 8 and 9.
70.11€ will remain the ultimate target for buyers, but they will need to be patient and relentless to reach this level before the end of the year.
Maxime Dominguez - Analyst at ActivTrades.
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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