$LKOH 4H has broken and retested Chuvashov's fork (orange line) after the bounces from the top of the trend channel. Expecting further downside to the bottom of the channel or lower, if megaphone formation plays out.
Lukoil is a Russian oil company with shares traded on the Moscow Exchange. Stock prices are nominated in Russian rubles, instrument's symbol is MOEX:LKOH.
During the recent years the Lukoil stock had a pretty good uptrend, and even made an all-time high this January. But the things are turning south, with signals of a long term trend reversal. Look at the weekly...
Indifferently, there is clearly a change in the configuration of the oil market,. so now speculating :
This could go back to higher levels of which is favored reflection to Russia, (oil industry), the chart could a possiblle pull back.
To once again see an rise escalation.
MOEX - LUKoil (LKOH) Can be filling a bottom triangle, in the next weeks we can see if the pattern is filling, to go down for 2050/2100 zone and continue bull to 2500 and then continue to break short the triangle. following the fibo.
Ideas, comments and corrections.
They are always welcome
