UK: BP shares price confirms the negativity – Analysis – 19-7-2019

BP shares price decline below 524.20 support line recently, forming the double top pattern and confirm surrendering to the bearish bias domination, expecting to move towards 510.80 level that forms the first target of the near term trading, while facing new negative pressures might extend trading towards testing the key support 495.90.

Stochastic attempt to crawl towards the oversold areas again reinforces the negative overview by providing new negative momentum and increases the chances of reaching the suggested negative targets.

The expected trading range for today is between 520.00 and 510.80

The expected trend for today: Bearish