Technical analysis

The information in this section is provided by Noesis Tech Analysis not Barclays.

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Trend

The trend arrows show short, mid and long term signal.

  • Short term:

    Bearish

  • Medium term:

    Bearish

  • Long term:

    Bullish

Short term comment

The evolution of prices has been generated by a movement that would technically be bearish under heavy pressure near 556.925, increasing the risk of overbought and pullbacks. It would have to reclaim 556.925 to shift to a more neutral scenario.

Long term comment

The price has a strong volatility in the structure of long-term prices. In this sense, it deployed a bearish trend from 567.176 to 488.811, (24-september-2024/31-october-2024) which was corrected not only in its entirety but also marked new highs at 822.305 (25-september-2025) . After that, the new bearish phase advanced -42.3%, losing the previous low at 488.811.

Technical outlook

Bullish in the long term, although it must still break above the resistance at 21.07 to slightly improve in the short term.

Technical Comment: Outperform

Oscillators

Moving average

View technical details

Pivot points

Pivot points
Support 3 Support 2 Support 1 Resistance 1 Resistance 2 Resistance 3
494.0000 503.0000 507.4000 516.4000 521.0000 530.0000

Alerts

Alerts
Priority Date Warning
Medium priority 15/01/26 Being near (above) the short-term moving average, the price may react temporarily to the upside. However, a break below would turn the signal bearish.
Medium priority 15/01/26 Being near (below) the short-term moving average, the price may react at least temporarily to the downside, but if it breaks above the level the signal would be reversed to bullish.
High priority 15/01/26 The price is close to support. It is recommended to monitor whether buyers regain control as the level is reached.
Medium priority 14/01/26 Being near (above) the short-term moving average, the price may react temporarily to the upside. However, a break below would turn the signal bearish.
Medium priority 14/01/26 Being near (above) the short-term moving average, the price may react temporarily to the upside. However, a break below would turn the signal bearish.
Medium priority 13/01/26 Being near (above) the short-term moving average, the price may react temporarily to the upside. However, a break below would turn the signal bearish.
Medium priority 13/01/26 Being near (above) the short-term moving average, the price may react temporarily to the upside. However, a break below would turn the signal bearish.
High priority 13/01/26 The price is close to support. It is recommended to monitor whether buyers regain control as the level is reached.
Medium priority 12/01/26 Being near (above) the short-term moving average, the price may react temporarily to the upside. However, a break below would turn the signal bearish.
Medium priority 12/01/26 Being near (above) the short-term moving average, the price may react temporarily to the upside. However, a break below would turn the signal bearish.
Medium priority 09/01/26 Being near (below) the short-term moving average, the price may react at least temporarily to the downside, but if it breaks above the level the signal would be reversed to bullish.

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