Trading ideas for PJSC “Lukoil” 16.09.2019

Global oil prices showed a sharp increase at the opening of trading on ICE in London amid a reduction in oil production in Saudi Arabia due to drone attacks on Saudi Aramco plants.

Earlier, along with oil, LUKOIL shares fell in price. The increase in the price of black gold increases the income of oil companies including LUKOILthat produces  2% of world oil production.

Consolidation above the mirror level of 5385.0 will provide an opportunity for further growth. The Stochastic Oscillator indicator signals an oversold stock.

Trading ideas:

Buy above 5385.0.

Stop Loss – 5325.0.

Target levels – 5331.0; 5786.0.