18.08.2020
Gazprom managed to stabilize the movement above the support level of 185.80, and the price reached the upper limit of the descending channel it is moving within. It is currently declining to test support again.
The price is now moving below the 50 average, which constitutes the first level of resistance for the price and halted its upward movement.
While we have major resistance at 202.20 and major support at 158.75.
We see that the stochastic oscillator starts to exit from the overbought area and the movement within a bearish path will therefore press the price to return and test the support 185.80
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.
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