LUKOIL

Spectrum.

Daily. Turn bearish this week till the end of Aug.

Annual cycle analysis.

A short-run bearish turn is expected from the 5th of Sept. Currently, annual cycle curves contradicts to Spectrum.

Turning points analysis.

Price may find support at 4840; 4730.

ZZ structure.

L-1. ZZ is still bullish. Yet, there is probability that it reversed down. If so, then decline below 4784 would confirm it.

L-2. Blue ZZ last segment coincides with higher dark blue ZZ. So it means that this blue ZZ is not accomplished and further increase is highly probable.