SHEL - Long-Term Forecast

Weekly price is located above Ichimoku cloud in the bullish area of the chart. The price was bounced from the resistance level at 94.87 for the ranging market condition.

- If the price breaks the support level at 84.38 to below so the secondary correction within the primary bullish trend will be started;

- if the price crosses 76.90 support to below so the primary bearish reversal may be started with 68.58 level to re-enter;

- if the price breaks 94.87 resistance to above so the strong bullish trend will be continuing;

- alternatively, the price will be on ranging within s/r channel waiting for the direction of the strong trend.

Trading Summary: waiting for direction.