Bridge wave rectifier gives us full wave positive picks of 12V only.Diode D5 keeps capacitor charged. Op amp's inverting terminal takes reference before capacitor and it's non-inverting terminal takes reference after capacitor. So when Signal goes to zero, op amp's inverting terminal goes to zero. But op amp's non-inverting terminal takes reference after capacitor so it will goes to +12V. This situation is same as when you ground inverting terminal of op amp and feed some positive voltage to it's non inverting terminal, it will reflect +Vsat on output. So, you will get one spike of +12V in output when signal touch