Gazprom continues its bullish path despite the bearish correction that occurred in the price after it reached the target of 232.00, after it managed to break the resistance level at 220.25.
The price is moving above the moving averages 20-7-50, respectively, as the two 20-50 averages form a …
The price pivot zone of 8.2500 held back sellers. The descending pattern of the H8 level is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversold conditions.
Trading idea:
Buy when an ascending wave pattern is formed, above 8.3150.
Stop Loss: 8.2500.
Target levels: 8.4288; 8.5606.
The pair remains in a short-term uptrend amid strong market hopes for the global economic recovery vigorously in the post-pandemic period, which in turn supports the demand for commodity assets, to which the pair is sensitive.
Technical side:
The price is located above the middle Bollinger band, at the …
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