Current trend
Yesterday Gazprom shares closed 0.65% lower.
Today the dynamics for the instrument are going to be determined mainly by two events. First is the ECB meeting and its Interest Rate Decision, where the regulator could expand its QE program that would lead to a fall in the Euro and a stock markets growth. The second event is going to be the meeting of foreign ministers from the US and Russia where they discuss possible ways out of crisis in Syria and the Middle East. The meeting are also going to attend officials from Saudi Arabia and Turkey, while Russian relationships with the latter worsened lately. The recent statement by Erdogan regarding a possibility to stop buying gas from Russia could lead to a fall in Gazprom shares.
Support and resistance
Currently the price remains near important support level at 138.79 and if the market opens with a gap below this level, the price could fall to 135.06.
Support levels: 138.79 (1/8 Murray).
Resistance levels: 140.
Trading tips
Open short positions after the breakdown of the level of 138.00 with the target at 135.15 and stop-loss at 140.00.
Yesterday Gazprom shares closed 0.65% lower.
Today the dynamics for the instrument are going to be determined mainly by two events. First is the ECB meeting and its Interest Rate Decision, where the regulator could expand its QE program that would lead to a fall in the Euro and a stock markets growth. The second event is going to be the meeting of foreign ministers from the US and Russia where they discuss possible ways out of crisis in Syria and the Middle East. The meeting are also going to attend officials from Saudi Arabia and Turkey, while Russian relationships with the latter worsened lately. The recent statement by Erdogan regarding a possibility to stop buying gas from Russia could lead to a fall in Gazprom shares.
Support and resistance
Currently the price remains near important support level at 138.79 and if the market opens with a gap below this level, the price could fall to 135.06.
Support levels: 138.79 (1/8 Murray).
Resistance levels: 140.
Trading tips
Open short positions after the breakdown of the level of 138.00 with the target at 135.15 and stop-loss at 140.00.