Rosneft Multi-Year Reversal Setup + Macro Channel Support!RosneftRUS:ROSNConnectmyCurrencyThe weekly chart shows the full picture. After an extended corrective phase, price has retraced directly into a multi-year ascending channel support, aligning with key Fibonacci retracement zones and historical demand. This area has repeatedly acted as a base for expansion, and the current reaction suggests accumulation rather than continuation lower. The structure is clean, with trendline confluence supporting a potential shift from bearish correction into bullish continuation. The move off this level shows early strength, with price attempting to reclaim momentum and build higher. 🟢 Buy Zone 1 (423 area) 0.618 Fibonacci retracement aligned with channel support and prior structure. Stop: 9.50 below entry (2.01%) / 980 position Qty: 2 Risk/Reward Ratio: 20.29 Target: +40.90% (664 area / 1,405.79) 🟢 Buy Zone 2 (462 area) 0.5 Fibonacci retracement with deeper channel support and stronger demand. Stop: 9.50 below entry (2.24%) / 980 position Qty: 2 Risk/Reward Ratio: 11.39 Target 1: +25.57% (531 area / 1,227.89) 🟢 Buy Zone 3 (367 area) 0.382 Fibonacci retracement approaching lower trendline support and final demand zone. Stop: 9.50 below entry (2.58%) Qty: 2 Risk/Reward Ratio: 32.61 Target 1: +25.57% (531 area / 1,227.89) Key Levels: 🔑 Current Price: 493 🔑 Buy Zone 1: ~423 🔑 Buy Zone 2: ~462 🔑 Buy Zone 3: ~367 🔑 Channel Resistance: ~677 🔑 Major Resistance: ~700 🎯 Target 1: 531 (+25%) 🎯 Target 2: 664–677 (+40% to +84%) ⚠️ Hard Stop All Zones: 9.50 below entry The bear case is clear. Continued downside in oil prices could weaken the entire sector. Geopolitical risks surrounding Russia remain elevated, and sanctions or policy shifts could impact long-term valuation. A breakdown below the channel would invalidate the structure entirely. The bull case is equally strong. Energy demand remains persistent, and supply-side constraints continue to support higher pricing environments. The technical structure shows strong historical respect for this channel, and each prior touch has resulted in significant upside expansion. This is not a short-term trade. It is a macro structure play based on multi-year support, trendline integrity, and high time frame confluence. The opportunity lies in positioning at key demand while maintaining tight, controlled risk against a large potential upside move.