Sber Bank stock analysis

Sberbank share is moving around the resistance 229.77 in an attempt to rise again. After it approached the support of the ascending channel at 224.00, to continue moving within the ascending channel as seen in the chart.

The current price action is between the support level 220.10 and the resistance level 245.57 over the medium period.

While the main targets will be at 216.00 support and 239.00 resistance.

  The moving averages 7-20 are above the price near the level of 233.10 and add pressure on the price for a further decline, while the 50 average remains moving below the price.

General direction of movement: Bullish path.