Gazprom analysis 11.08.2020

Gazprom share is moving around the support level of 185.80, after it settled in trading around this after it failed to return to the ascending channel it was moving within.

The price is now moving below the 50 average, which constitutes the first level of price resistance.

While we have major resistance at 202.20 and major support at 158.75.

We see that the stochastic indicator begins to exit from the seventh-selling area and move within a downward path, thus it will press the price to breach the support 185.80 and start to the downside.

The price action will be between the support level 158.75 and the resistance level 202.20.

The general direction of the movement is bearish.