Gazprom analysis 10.11.2020

Gazprom share started to rise after it reached the lower limit of the descending channel in which it was moving, and it reached the resistance level at the moving average level 50. After crossing several resistance levels.

While we have major resistance at 173.64 and key support at 158.75.

We notice that the stochastic indicator reached from the overbought area and this coincides with the price reaching the target within the descending channel within which it is moving, so we may see a bearish correction in the price.

The price action will be between the support level 145.75 and the resistance level 170.20.

The general direction of the movement is bearish.