Sber Bank rose and managed to breach the upper bound of the descending channel it was moving within after breaching several resistance levels and approaching the main resistance level 243.53
The price is moving above the moving averages 50-20-7. Therefore, the price confirmed the upside path and we await a …
The price pivot zone of 459.00 holds back sellers. An “inverted hammer” reversal pattern has formed on the daily chart, a likely reversal was confirmed by the bullish candle. Awesome Oscillator indicates a bullish divergence, while the moving averages of Stochastic Oscillator are in the oversold zone.
The pair has grown significantly in the recent days amid a weaker US dollar following the increased demand for risk assets. But it’s technically overbought, and the rally has stopped in the stock markets, which may result in a downward correction of the pair.
Technical side:
The price is …
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