- summary:
- The BP share price drops to 411.80 pounds sterling amid market fluctuations and profit. Can it recover, or is it more negative?
BP PLC (LSE: BP) witnessed a decrease in the price of its share, as it decreased to 411.80 pounds, amid wider market fluctuations in the market after its last highest levels. The arrow, which reached a peak near 467.90 pounds sterling, has struggled to achieve gains and is now testing the main support levels. Investors closely monitor whether BP can settle or face more negative risks.
Technical analysis: main support and resistance levels
The current market performance
- Current price: 411.80 pounds
- Trend: The downward trend after a strong gathering, and the support test
The main levels of viewing
- Immediate resistance: 426.05 pounds £
- Main Resistance: 444.70 pounds
- Immediate support: 406.45 pounds
- Main support: 392.85 pounds sterling
Why the BP share price decreased?
The recent decline in the BP company is driven by the uncertainty in the oil market, as the fluctuation of crude prices affects profitability and the morale of investors. The arrow also faced pressure in achieving profits after joining 467.90 pounds, which led to a withdrawal where merchants were imprisoned in the gains. In addition, global economic concerns and uncertainty in interest rates have been affected by market morale, which affects the performance of BP. Institutional flows and the broader energy trends will determine the following stock.
conclusion
BP price decrease comes after a strong gathering, with market factors and contributed to achieving profits to decline. The arrow is at a critical turn, with support at 406.45 pounds and resistance in the amount of 426.05 pounds dictating the next step. Investors should monitor the trends of the oil market and the broader market morale to assess the BP direction in the short term.
