BP shares (LSE:BP.) have dropped like a stone, effectively putting an end to the recent bullish movement that was in the market. The bullish movement, which was seen from January 2022 to May the same year, has been put to an end effectively.
Price precipitously like a stone and went below the EMA 21, closing below it. At the same time, the William’s % Range period 20 has entered into the oversold territory. The bearish trend is supposed to continue from here, while rallies and pauses offer opportunities to short further.
Therefore, the bearish movement on BP. is expected to continue towards the support zones of 370.00, 360.00 and 350.00 within the next several months.
Teach Yourself Technical Analysis: Technical analysis
Click Here to register for free on Investors Hub
This area of the investorshub.advfn.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of Investors Hub. Investors Hub does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at Investors Hub is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by investorshub.advfn.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Register for real-time alerts, custom portfolio, and market movers
