Amadeus has consolidated the exceedance of 70 euros and can seek in this final stretch of the year the area of annual highs around 75 euros. If it exceeds this level enters a new impulsive phase to seek its historic maximums of 2018 around 81 euros and to continue with the orthodoxy should try projections up to 85 euros, after being in condition of free rise.
The company, after recovering from the significant correction it presented last year, and having set new historical highs of around €81.00 and a correction to lows in December below €60.00 at €57.90, is seeking to retake the options of the medium-term progress scenario after the consolidation of the thwarted €75.00 attack. In the first sessions of 2019, when the inertia that seemed to predominate was that of December 2018, it set lows below this level of 57.70€, which are the annual lows to which the lost advance guideline was adjusted from the 2012 lows, which gave way again after the attack at 75.00€ and which is now being recovered to the level of 72.00€ after a rebound in the support zone of around 61.50€.
The rebound from these lows continues with a structure of rising lows and yet rising highs must now be verified with a new attack above 75.00 €. The momentum for now is supported by an orthodox volume pattern. Now in this new attempt the first target is in the €75.00 zone. If it achieves this, it would already be activating again the scenario with advancement options if it consolidates definitively with the recovery above 72.00€, which will mean a new adjustment of the slope with the recovered guideline.
If it reaches 75.00€, it enters fully into the zone of consolidation resistance of the previous historical highs that extends from this reference to 81.00€, which should be difficult to overcome. If it achieves it with intention and of consistent form it remains again in condition of free rise projecting first to 85,00€-87,00€ and to the ceiling of a channel adjusted up to 95,00€ like objective to a greater term.
If you do not manage to consolidate the overcoming of this zone of 72.00€ and successfully attack the 75.00€ you can try again the support zone of the lateral consolidation. This level has a first support that, if not lost, keeps the prospects intact and that we placed in the range between € 65.00-62.00, and we could maintain this situation of more lateral scenario, although with negative bias as long as they did not yield the zone of € 55.00.
This is the key range in the medium term not to change to a corrective scenario as losing it would mean breaking with the orthodox series from the lows of 2016 with lows and highs ascending that has configured the current scenario of progress. And also the appearance of a major roof pattern of asymmetrical shoulder-head-shoulder, due to the expansion of this last shoulder, which would leave a theoretical correction target up to the level of 40.00 €, and that we can not rule out. Before reaching these levels would have several supports by the structure of progress that has been leaving and neither should be discarded at the end that correction seek the area of 2015-2016 minimums on the 331.50 €-30.00 €. But for now this scenario has low assigned probabilities that would also be reduced if it definitively manages to surpass the 75.00€ that skew us then with greater probability to the search of the option of new historical maximums above the 81.00€.