21.11.2018
Lukoil continues to trade within the intraday downtrend supported by the moving averages. The price is moving to rich the bottom line of the ascending channel that has been trading inside since October 25, 2017.
The moving averages press the price, especially the SMA50, which leads to further downside.
We see that the Stochastic has reached the oversold area, reinforcing the bearishness.
Support and resistance:
Support: 4722.40-4592.35;
Resistance: 4854.29-4913.00.
The trading range between support 4592.30 and resistance 4913.
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