Gazprom analysis

The Gazprom share was unable to stabilize above the resistance level, to correct this week for the strong ascending path, but in general the stock continues on the upside path within the ascending channel that is clearing our chart.

The moving averages support the upward movement as the price moves above it, which is a positive sign for a continuation of the upside path. And the price remains above 226.00 a prerequisite for the continuation of the upside path.

While we have resistance at 238.00, which will be the next bullish target, while there is a major support at 211.00.

We notice that the stochastic oscillator is moving within a bearish path after it exited the overbought area, therefore the corrective decline may continue to 220.00.

The price action will be between the support level 226.00 and the resistance level 238.00.

The general direction of the movement is up.