Royal Dutch Shell Wave Analysis – 1 December, 2021

• Royal Dutch Shell reversed from support level 15.00

• Likely to rise to resistance level 17.00

Royal Dutch Shell recently reversed up from the support level 15.00 intersecting with the lower daily Bollinger Band and the support trendline of the daily up channel from October.

The support zone near the support level 15.00 was further strengthened by the 50% Fibonacci correction of the upward impulse from the start of July.

Royal Dutch Shell can be expected to rise further toward the next resistance level 17.00. Strong support remains at the support level 15.00.