Royal Dutch Shell share: The chart is improving, but … – Chart analysis

The Royal Dutch Shell share continues to build an important buy signal in terms of charts today. On the Euronext in Amsterdam, the share price of the oil and gas group has risen to EUR 14.05 today and is currently close to the daily high at EUR 14.024 (+1.87 percent). After the company’s share price recently closed a gap at EUR 11.312 / EUR 13.036 and rebounded from here, the technical picture is now improving further with new procyclical buy signals.

Yesterday, the Royal Dutch Shell share had already succeeded in overcoming a technical chart hurdle in the core zone at 13.43 / 13.62 euros and climbed to 13.958 euros. But with a Euronext closing price of 13.766 euros, the question remained whether the commodity share can confirm the break. Can it, as shown today with the further price gains, through which the Royal Dutch Shell share price continues to move upwards from the chart-technical signal mark.

While 13.43 / 13.62 euros will be the first technical support mark for the Royal Dutch Shell share, the group’s share price could now continue to move upwards. Various obstacles are to be expected between EUR 14.61 and EUR 15.16, not far below that the EMA 50 is currently quoted at EUR 14.338 and could represent an additional technical hurdle. In the past few weeks, this moving average has been the “lid” on a recovery move several times.

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