Gazprom shares hit 17-year low

Gazprom shares hitting a 17-year low could increase supply concerns in the natural gas market and put downward pressure on prices in the short term. Technically, the RSI is at 45 in neutral territory, while the MACD indicates weak momentum below the signal line. The price is trading below the 20-day moving average, suggesting that selling pressure may persist. However, the proximity to the 50-day moving average hints at potential buying interest if the support level is tested. Although the short-term trend is predominantly bearish, caution is advised as the stock has not yet entered oversold territory.

The news headline indicates that Gazprom shares have hit a 17-year low. This could create a negative sectoral sentiment for NTGAZ. However, technical indicators show that the RSI is approaching oversold territory at 38.9, and the MACD has started to rise above its signal line. This may suggest short-term recovery potential. The price remaining below the 20- and 50-day moving averages confirms the continuation of the downtrend. Therefore, due to short-term directional uncertainty, I foresee a neutral outlook.