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Gogadget,
Please don't discourage foolish derampers from losing money, not that I believe he's actually going short. Sp has broken decisively out of the recent downtrend.
Based on the daily chart I think we'll see a sharp 10p rise soon, taking us to a 20 month high, which will attract a lot of momentum buyers.
Jmini aka DB,
I said the chart looked fantastic, which it did. Your problem with interpreting my post is that your limited intellect precludes you from understanding that not every chart pattern comes to fruition.
Raffles,
I believe you're correct. Jmax never paid me any attention until I posted a response to DB's nonsense yesterday, after which he posted an unprovoked and factually incorrect criticism of an old post of mine. Cheers for the heads-up.
DB
With all due respect, a blind Labrador could see the absurdity of a report that oil demand will halve in 2024 from 2023 level Lol. Where do get these "reports" from? Hahahaha!!!
You normally post obtuse statements without reference or explanation. This, however, betrays you as someone with zero credability. Lol.
The monthly chart is showing a bullish hammer forming, rejecting the two prior months consecutive bearish spinning tops. We are also moving up from the downward sloping trendline, which we have retested, and are about to close above for the third consecutive month now. Setup couldn't look better.
Longer term charts are more important than shorter term ones.
In March 2022 we touched a downward sloping trendline on the monthly chart, which remained intact, with several touches, until Jul 2023. In Jul 2023, we broke through that trendline. We've come back to test it since, most notably this month, but have continued to close above it since Jul. This is classic breakout behavior. The weekly chart shows an identical pattern.
Serious upside ahead.
Gingy
Rahul has gotten the job done in Kenya. He's overseen the submission of the FDP. It's the Kenyans who are messing about, only now appointing "consultants". He has no control over the Kenyans.
What about the windfall taxes applied to UK-focused oil companies that wiped out their profits? Was that the fault of the CEOs?
Fla
Interest will only be payable as capital is drawn down, and that will happen over the course of years.
Who will invest? If you'd been paying attention, you'd know that TLW are seeking a strategic partner, most likely to be a state-owned oil company.
But you don't pay attention, do you, because to acknowledge the facts would spoil your negative narrative.