Shell stock trades near GBX2,977–GBX3,523 range as current price stays above key averages

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Shell up 0.63% today at GBX3,250

Highlights

Shell (SHEL/GBX) maintains a bullish trend, trading above key moving averages on multiple timeframes.
Technical momentum remains strong, with clear buyer dominance and several overbought indicator readings, though short-term volatility is low.
Expected price range over coming sessions is GBX2,977 to GBX3,523, with high probability of sideways or upward movement barring a drop below support.

Momentum divergence as technicals remain bullish despite muted session

On the working timeframe, the price is above the MA-20 at GBX3,186 and MA-50 at GBX3,145, while on the daily chart it sits above the MA-200 at GBX2,991. The Ichimoku Kijun level at GBX3,191 serves as immediate support. Momentum indicators on the h1 timeframe confirm strong conditions: both Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) signal Buy, the Relative Strength Index (RSI) is elevated at 72.36, and both Stochastic RSI and Commodity Channel Index (CCI) show overbought readings. Bull/Bear Power reflects buyer dominance intraday, although the Awesome Oscillator remains neutral. Despite these signals, price currently trades near the session low with low volatility, indicating a divergence between strong momentum and lackluster intraday performance.

Sideways movement likely as breakout risks remain contained

Looking ahead over the next several sessions, GBX2,977 and GBX3,523 define the expected volatility band relative to current levels. Baseline scenarios suggest prices may fluctuate sideways within this corridor. A clear breakout above GBX3,523 would confirm a bullish scenario, while a break below GBX2,977 would signal a bearish turn. However, the probability for price gains remains high, with limited likelihood of a decisive downward move in the near term.

Viktoras Karapetjanc, expert at Traders Union, notes that Shell’s price structure remains strong, holding above major moving averages and key technical support. He sees robust momentum with prominent buy signals across multiple indicators, despite muted price action intraday. The analyst believes risk of a sharp downside move is limited, with the volatility band between GBX2,977 and GBX3,523 likely to contain price in the near term. Karapetjanc concludes: "Strong technical momentum and resilient price action point to further upside as long as Shell holds above its key support levels."

Earlier, analysts noted that Shell's sustained share buybacks and portfolio acquisitions supported a bullish long-term outlook backed by strong technical momentum. The latest intraday divergence between strong momentum readings and price softness suggests traders should monitor for a potential upside breakout above GBX3,523 as confirmation of renewed buying pressure.

Source of Data: SHEL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.