The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Unfortunately with Durrant at the helm, rather than sell off assets I'd see it more likely PMO would seek to expand in the NS due to tax but what and how would this be funded?
Brent not looking good, new low 58.70
Expecting PMO to be back in the 60's tomorrow.
GL
I've sold, took a loss.
Whilst I agree the current SP is likely to be good long term, in the short to medium term likely to go considerably lower imo. Back to the 60's tomorrow, then if 68p doesn't hold?
Trade war tension likely to increase in the weeks ahead then we've Brexit less than 3 months away.
How many people intend to continue holding on Brexit day? or even in the build up?
Overdone, maybe, but that does mean it can't go a LOT lower!
Target 55p
55p?
Relaxing by the pool :)
FYI, still holding xxxk
GL
Bladesman,
Look at previous charts and you should quickly see previous support and resistance levels, patterns / trends forming. It really is worth reading and learning, whilst most on the boards will dismiss charts as tea leaf reading theres enough pros and automated trading based on technicals that it can't be ignored. Try registering for prorealtime free version for charts.
BTW Im still holding shares in PMO, been higher lows on the weekly since mid june, hopefully 82 should break soon, providing brent plays ball.
GL
SINGAPORE, July 25 (Reuters) – Brent oil may retest a support at $61.48 per barrel, as it has completed a bounce triggered by this level.
The support is identified as the 38.2% projection level of a downward wave C from $67.65. This wave is far from complete. It is expected to travel into a range of $51.50-$57.67.
The bounce is indeed a pullback towards a flag, suggesting a target around $51.50 as well. The fall from Wednesday's high of $64.66 looks deep enough to confirm a continuation of the wave C.
On the daily chart, oil is poised to retest a support at $61.54, the 38.2% projection level of a downward wave (C) from $75.60. This is its fourth attempt to break this support. It may succeed.
Brent down again, that's going to hurt tomorrow.
GL.
Target 55p
Geo, irrelevant if supply is increasing greater than demand.
Target 55p
July 19 (Reuters) – The International Energy Agency (IEA) doesn't expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director said on Friday.
"Prices are determined by the markets...If we see the market today we see that the demand is slowing down considerably," said IEA's Fatih Birol, in public comments made during a two-day energy conference in New Delhi.
The IEA is revising its 2019 global oil demand growth forecast down to 1.1 million barrels per day (bpd) and may cut it again if the global economy and especially China shows further weakness, Birol told Reuters in an interview on Thursday. ...
Last year, the IEA predicted that 2019 oil demand would grow by 1.5 million bpd. But in June this year it cut the growth forecast to 1.2 million bpd.
"Substantial amount of oil is coming from the United States, about 1.8 million barrels per day, plus oil from Iraq, Brazil and Libya," Birol said.
US doesn't want war, neither does Iran, simple.
Expect any brief rise to be sold into imo.
Target 55p.
GL.
Members,
Since close brent has continued on its downward trajectory, currently $61.20
Absolutely no doubt PMO sp will open lower tomorrow imo, followed by a further sell off, fast or last, it's going down.
Target 55p
Expecting a further sell off tomorrow.
Target remains 55p.
Seized a tanker!!
Not contradictory at all, lower highs = downtrend
Haha, every spike has been followed by a sell off and lower highs.
Typically, PIs overleverage in anticipation of news followed by a panic sell / dip immediately before results / news. Expect sell off / profit taking today and early next week.
And then again sell on news.
GL
This weeks Investor presentation (9th July), next weeks update unlikely to hold any new info imo, awaiting sell off.
http://www.premier-oil.com/sites/default/files/presentation/190708-investor-pres-july-2019-v1.pdf
Looks ready for another drop, it's a sell imo, fast or last?
Support 67.9p
Brent currently at $62.4, doesn't bode well for tomorrow.
PMO, weak support at 74p then it's back to the 60's imo.
GL.