GazpromNef Weekly Review
Wave Analysis:
During the previous trading week, GazpromNef rose tremendously and is still pretty much bullish both on the weekly and the monthly charts. As long as the price remains above the supportive trendline, we expect nothing but a possible momentum to the upperside with an ultimate target at 500.00. As it is, selling the shares of this company or holding unto a sell position is very risky and cannot be recommended. Conservative traders can wait for pullbacks up to 380.00 to pick lpow risk but positions:
Trade Recommendations:
Look for low risk buy positions
Lukoil weekly review:
Wave Analysis:
Last week, the shares of Lukoil company plunged massively but is still supported by the lower 52 simple moving average, We expect the downward rally which was seen last week to be the continuation of the corrective wave (iv) and the inner corrective three wave cycle but should not go beyond the supportive SMA. The best is to look for low risk buy position during this week, and even in the coming weeks, in overall the shares of this company are gaining value, therefore only buy positions are recommended.
Trade Recommendations:
Look for long term buy orders now.
Magnit weekly Review
Wave Analysis:
Since December 2016, the shares of Magnit has been on the loosing end. While the price remains below the two simple moving averages, 21, and 52, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive five wave cycle and should see the impulsive wave (v) break below the end of the impulsive wave (iii) towards 3000 or even lower. This view can only be invalidated in case the price breaks above the upper SMA.
Trade Recommendations
Look for long term sell orders.
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