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.
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