We can found a technical figure Rising Wedge in Spanish company Repsol S.A. (REP.mc) on a daily chart. Repsol S.A.s a Spanish energy and petrochemical company based in Madrid. It is engaged in worldwide upstream and downstream activities. In the 2020 Forbes Global 2000, Repsol was ranked as the 645th-largest public company in the world. It has more than 24,000 employees worldwide. It is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation, and trading. The Rising Wedge has broken through the support line on 09/09/2021. If the price holds below this level, you can have a possible bearish price movement with a forecast for the next 12 days towards 9.128 EUR. According to the experts, your stop loss should be around 9.976 EUR if you enter this position.
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Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.