Lukoil shares in the last trading session rose 0.81%. The closing price was 5143 rubles. The securities were trading at the market level. Trading volume amounted to 3.4 billion rubles.
On Tuesday, Lukoil’s quotes continued to try to grow towards the sellers’ control area of 5200. After reaching the 5170 mark, a pullback followed. The price continues to be between the two key levels 5200 and 5100, but is getting closer and closer to the upper resistance, which may give an attempt to break out the sellers’ area.
The technical picture shows two scenarios of events:
- If the resistance of 5200 is broken, the next target will move to the area of 5400.
- Leaving and fixing the daily candle under the level of 5000 will open the way to the zone 4950–4800.
On the 4-hour chart, the RSI curve is in the neutral zone, at around 53 p. Average divergences are observed on the RSI and MACD indicators – timid signals of sellers’ weakness. The price is near the moving SMA and EMA. These technical factors indicate a neutral picture with no clear signals. First of all, you need to monitor the development of support and resistance levels: 5200 and 5000.
- Resistances: 5200/5400/5500
- Supports: 5100/5000/4950
The external background is neutral in the morning. S&P 500 index futures are up 0.2%. Asian indices are trading in different directions. Brent crude is up 0.3%. The current situation suggests that if the background persists, the opening of trades will take place near the close of the previous session.
At the beginning of the year, the three-year uptrend was reversed. Two times the quotes approached the level of the lower border of the chart – 4000. Then twice to the level of 5500, but it is impossible to gain a foothold above.
In January 2021, with an improvement in market conditions, shares may recover to the area of 5500 rubles.
It is still difficult to count on more significant growth, since the risks inherent in the global oil market remain high. At the same time, in 2021 we may well see a return above RUB 6,000. for the paper.
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