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.
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
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