Lukoil Analysis 30.11.2018

Lukoil reached the lower channel line in which it trades and was unable to breach it as it rebounded to continue the bullish path it has started since October 25, 2017.

The price now trades above the moving average 7 and below the moving averages 20 and 50 in a bullish intraday move.

The stochastic indicator gives bullish indicators and moves towards the overbought area in a reversal of the price action.

Support and resistance:

Support: 4581.4;

Resistance: 4870.25-5036.9.

The trading range between support 4581.4 and resistance 4870.4.

The general trend is bullish.