DAILY SAM TECHNICAL ANALYSIS MONDAY 2 MAR 2020

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BANCO SANTANDER S.A. (BME:SAN)

Diupdate

BME:SAN BANCO SANTANDER S.A.

trendanalysis chartpattern waveanalysis san abc

SAM HAS MADE AN ABC CORRECTION IN BETWEEN APRIL 2019 AND SEP 2019

@3.9000 PRICE HAS TESTED SEVERAL TIMES FORMING A HEAD AND SHOULDER PATTERN

PRICE HAS BROKEN THE 3.3855 INDICATING A FURTHER DECLINE WITH PROJECTION TARGET:

@ 3.0605 1.618% FIBONACCI EXTENSION WHERE PRICE WILL ENCOUNTER JUN 2016 LOW @ 3.0980 AT THIS POINT PRICE COULD GIVE A POSITIVE REACTION BACK TO 3.9000

BREAK BELOW THE 3.0605 NEXT PRICE PROJECTION:

@ 2.8290 200% FIBONACCI EXTENSION

FURTHER BELOW ON A WEEKLY CHART:

@1.7500 THERE IS A 100% SYMMETRY FROM NOV 2007 AND MAR 2009 AT THIS POINT THE SPANISH BANK COULD GIVE A STRONG POSITIVE REACTION

NOTES:

THE SPANISH BANK HAS FILLED ALL GAPS UNTIL THE 25 JUL 2011,

UNFILLED GAPS BELLO:

25 JUL 2011 @ 7.3015

9 DEC 2014 @ 7.1240

14 APR 2014 @ 68900

RESISTANCE @46820

SUPPORT @3.0980

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