Lukoil is in a corrective mode | 14 June 2019

Gazprom Weekly Review 

Lukoil is in a corrective mode

Wave Analysis

During the previous trading week, Gazprom Rallied massively to the upperside but failed to breakout above 251.10. The shares of this company are still in an active up trend, therefore, we recommend looking for long term  buy orders with an ultimate target at 260.00 or even higher. As it is on the daily chart attached, we recommend looking for long term buy orders. But should price pullback to the lowerside , only a clear breakout below 159.00 or even lower will attract a possible sell order.

Trade Recommendations:

Look for low risk buy orders.

Lukoil weekly review

Lukoil is in a corrective mode

Wave Analysis

Perfectly as forecasted during the previous week's forecast, Lukoil has been in a corrective mode.  While the price is contained below the level 5358.9, we expect the previous corrective three wave cycle to extend to the lowerside and should breakout below 4818.0 towards 4103 or even lower. As it is, buy orders looks more risky and cannot be recommended, but if the price can cross above 5900.00, then this will be an ideal place to look for long term buy orders with an ultimate target at 6500.00 or even high.

Trade Recommendations:

We're on the sideline.

MTS Weekly Review

Lukoil is in a corrective mode

Wave Analysis

Just recently, MTS shares was trading with an contracting wedge formation but breakout above it during the previous trading week, as long as the price is contained above the  black big line, we expect nothing but a possible momentum to the upperside, the idea is to wait for retracements back to the lower side to pick low risk buy orders with an ultimate target along the upper trendline or 272.70. But on the flip side, should price break below 252.40, then this will be an ideal place to look for a sell order.

Trade Recommendations:

But MTS shares towards 272.70.

Bob Stan
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