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Romeike,
Sorry but that's nonsense, unfortunately the UT closing SP is relevant to TA, TLW closed with a new low, a trend I expect to continue next week. Also, the trades you describe as "post market trades" are not, they're simply late reported trades.
HTH
LONDON, Sept 17 (Reuters) – Saudi Arabia's oil output will be fully restored quicker than thought following weekend attacks on production facilities, two sources briefed on developments said on Tuesday, taking two or three weeks not months as initial indications suggested.
The kingdom is close to restoring 70% of the 5.7 million barrels per day (bpd) production lost due to the attacks, said one of the sources, a top Saudi official briefed on progress.
That source said state-run Saudi Aramco's output would be fully back online in the next two to three weeks.
On Monday, two sources briefed on the company's operations had said a full return to normal oil production volumes "may take months." Oil prices, which had soared almost 20% on Monday, fell sharply on Tuesday. Brent crude was down $3.72, or 5.4%, at $65.30 a barrel by 1350 GMT.
Its 83p already and only just started dropping again.
Gaps on the chart at 67p and 72 but target remains 55p.
It's a SELL imo.
GL ;)
POO has been in a downtrend since April, yesterday it hit the trend line but stalled. Path of least resistance is now down.
It's a sell imo.
Good luck ??
Zama sale, if it happens is a long drawn out process and real world valuations never match PI expectations, to suggest any imminent sale and rerating is nonsense.
In the meantime, recession looming, a likely nodeal Brexit economic crisis and a declining oil price. How do you see that affecting PMO SP?
PMO is a SELL imo.
Gaps closed, oils going down, sell off tomorrow.
HTH
Support gone, 55p coming soon imo.
It's coming imo.
GL
Be careful, this could turn very nasty imo.
Good luck.
Mrd,
PMO and brent are in a downtrend, it's currently in a tight range but it will have to break out soon and the path of least resistance is certainly down imo.
Sold?
Both PMO and POO are in a downtrend, any attempts to break out have failed. Head and shoulders forming, expecting next move down to 55p region once 68p breaks imo.
Global demand fell by 160,000 barrels per day in May
January-May demand rise of 520,000 bpd lowest since 2008
Global demand growth forecasts lowered for 2019, 2020
Supply curbs by OPEC and allies help balance market
By Noah Browning
LONDON, Aug 9 (Reuters) – Mounting signs of an economic slowdown and a ramping up of the U.S.-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008, the International Energy Agency (IEA) said on Friday.
"The situation is becoming even more uncertain ... global oil demand growth has been very sluggish in the first half of 2019," the IEA said in its monthly report.
The Paris-based agency said that compared with the same month in 2018, global demand fell by 160,000 barrels per day (bpd) in May – the second year-on-year fall of 2019.
From January to May, oil demand increased by 520,000 bpd, marking the lowest rise for that period since 2008.
"The prospects for a political agreement between China and the United States on trade have worsened. This could lead to reduced trade activity and less oil demand growth," the IEA said.
Lowering its global demand growth forecasts for 2019 and 2020 to 1.1 million and 1.3 million bpd, respectively, the IEA cited China as the only major source of growth at 500,000 bpd for the first half of this year.
Demand growth in the United States and India was just 100,000 bpd from January to June, it said.
"The outlook is fragile with a greater likelihood of a downward revision than an upward one," the report said.
Supply curbs by the Organization of the Petroleum Exporting Countries and its allies, meanwhile, had tightened the oil market, helped by slower non-OPEC production.
But the IEA said that balance would be temporary as it forecast robust non-OPEC production growth in 2020 at 2.2 million bpd, predicting the global oil market would be "well supplied".
1st support 68p then if / when that breaks.......
55p!