Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart, Repsol, S.A. (Repsol) is from the watchlist section of the weekly report. It is featuring a possible 19 month-long ascending triangle that can act as a bullish continuation. This chart also is a good representation of the overall strength in Global Energy equities.
REPSOL SA (REP.MC)
Repsol, S.A. (Repsol) is an integrated energy company. The Company’s segments include Upstream, Downstream, and Corporation and others. The stock is listed on the Spain Stock Exchange. Price chart formed a 19 month-long ascending triangle with the horizontal boundary acting as strong resistance at 15.60 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 16.05 levels will confirm the breakout from the 19 month-long ascending triangle with the possible chart pattern price target of 20.20 levels.
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