Gazprom analysis 25.08.2020

Gazprom is steady in the movement around the support level 186.00, as it continues moving within the descending channel that is shown on the chart.

The price is now moving below the 20-50 averages that form resistance levels and pressurize it to decline.

While we have major resistance at 202.70 and major support at 158.75.

We see that the stochastic oscillator begins to exit the oversold area and moves within an upward path, thus indicating the strength of the support level, and will pressure the price to return to the upside and test the resistance at the 50 moving average.

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.