Member Info for nhawan

Seems to be rising quicker than I thought. Perhaps something coming in tomorrows AGM?

Since 15p held well I reckon it could over 25p when OPEC start cutting production next week. As always the markets like to pump when there is imminent price sensitive action. Also OPEC may cut further than the announcement to try and get POO to the $30 range. Nice entry price of 15p-16p for those who got in.

Time to buy methinks. Brent jumped to $22.3 now. Hit the bottom at $19.6.

Brent jumped to $21.5. Something could be happening in the background. Perhaps time to get in. Decisions decisions.....

I'm pretty sure OPEC will do something before the week is out to support Brent. Apparently already planning to bring cuts forward. Much as I suspect they are trying to bury US Shale, they still need to make money themselves. TLW needs to hold 16p or it's 12-12p range next.

Too many speculators bought into oil. If those who can take actual delivery were the only ones allowed to buy then this would never have happened. OPEC is probably going to bring cuts forward by the looks of it.

$22.9 now. Futures are lower than that. Ouch.

http://www.livecharts.co.uk/MarketCharts/brent.php

$23.2 and still no sign of a levelling off. Now is not the time to buy anything.

14p is not even a support. More like 10p needs to be seen to even think about a position.

The long awaited news is out today so likely drop to 10p coming over the next few days. No real expectations of other news before AGM left.
Coupled with Brent diving I reckon this is bail out time for those in profit.

Someone knew the POO will hit the fan after close hence the strange rising sp action opposite of the Brent price decline.
Pi's a left holding the can and will be punished.
Shocking state of affairs.

Probably some big sell order being worked through. They managed to suck in quit a few more pi's before slamming it down at close. Nicely locked in.

The bounce is not really sustained. From the charts it looks like a steady decline heading for $20. There are bound to be small bounces on the way down. Fundamentals haven't changed. Still record low demand and nearly full storage.

The charts show that if it doesn't hold 16p it is heading for 10p next. Those still in profitshould be thinking of banking it right now. Brent is diving at the moment.

The only reason this is even holding up is due to anticipation of news at the AGM. Always happens as pi's naively expect something big. Time and again it has resulted in nothing and usually those in the know selling in to the rise.
There are traders who have 100% gains. They will be taking profit very soon.

The rampers also said it will gap up to 20+ this morning.

why?

Brent is on a downwards trajectory. Can't see it recovering for a while yet. It may hit $25 by end of week.

Not sure why everyone seems to be getting overzealous when the POO is falling. There is a 50% gap between Brent and WTI. Can't be long before that is narrowed.

It's the early doors ramp to sucker in more pi's. Watch it drop in the afternoon as traders close their positions.