In a very negative session for the IBEX 35, with decreases at this time of 0.96% for the selective, which fell to 8,728 points, one of the values that is managing to contain the falls is Telefónica.
The operator is also negative but it is the value that falls the least at the moment, 0.12% at 4.0075 euros.
If we look at its chart, we see that the value described a bullish engulfing pattern and an inside bar figure that in the last session validated on the lower side.
Today has lost the minimum of the enveloping pattern, but the market remains on the upper side of the channel and still shows a gap against which we could see rallies.
The first positive sign would be that today in 60 minutes it manages to close above yesterday’s closing price, in the 4,013 euros.