Member Info for uncertain

https://bbcgossip.com/news/backfire-oil-prices-soar-as-market-rejects-biden-administrations-strategic-reserve-ploy/

One interpretation of what is going on in the oil market

Moving back towards $83 this morning.

If you look at the one year chart for Brent then there are peaks in February, June and October, each followed by a period of slipping back before the next surge occurs. The backslipping we have seen in November is no greater than these earlier events so I would back a further surge, probably peaking about February of next year around $95. We may fall back a little again before Xmas if this pattern is to be repeated, but only to surge upwards again.

Falling again this morning on very small volumes. The upside of it moving in both directions on small volumes is that it's going to move very fast if large volumes materialise after a good RNS

You might find quite a few greens in Austin, Rhertig

Looks like quite a serious retest of $80 for Brent with a drop below this morning.

Brent retesting $80 this evening. Hope it's just a brief flirtation.

Anyone selling now is looking for a quick little profit. I prefer big slow profits

AKA also has held similar opinions about UKOG ABM and MSMN

All of them are still waiting to go BOOM

Fourth time lucky?

For those of you concerned about the extent of the sp rise before any RNS, remember that this rise is anticipation of not just a single piece of good news, but a whole host of possibilities. KK and CC regularly remind us of the whole list but it is worth repeating: boaty contract, 153 at 600 bopd with 143 and 146 to follow, Yelemes export licence, 3AB, A8, 802 deep prospects, substantial upturn in revenue due to Brent. I've probably missed some but that is impressive enough I would have thought.

The question is why isn't the sp higher? 6p by the end of the week has been suggested and that seems very reasonable to me. GLALTH

Despite what I posted yesterday we probably do need the TA brigade on board to get this motoring. Fundamentals investors will still need some reassurance to come back but people who just like the right shaped graph could get pulled in more easily

From a technical perspective CASP is now sloughing off the despond of disinformation and rising into an aspiration of accelerating augmentation. I fully expect it to enter a trust plateau shortly a fter the next RNS, before the more difficult assault on the mountain of hyperbola (which can often rebound on you). Beware of false summits.

Just thought I would get that in before the TA specialists arrive on the board

No longer a Chocodog

Somm 2.26bn shares now I think plus I don't think you did the dollar pound conversion first on the $100m.

CC for the lot?? Well that number has to be pure speculation and you need to flow everything first, but could be a pound party.

I make it 3.26p per share Somm, hence my reference to the famous BHS dividend

Are you thinking of a BHS dividend CC?

Were you unable to sleep CC or are you somewhere east of GMT? Thanks for the link.

The final COP 26 agreement has watered down the statement on phasing out coal. It appears the world is not ready yet to wage war on fossil fuels ( coal was always going to be the first target). This is probably bad news for the planet but good news for CASP.

I agree about the upside for Brent. $100 seems very possible, but $200 is a bit wild

It's nice when TA and fundamentals are pointing in the same direction. I like to look at the fundamentals but if followers of the TA religion want to jack the price up, I have no objections.

You said I was uncertain, Mike, but I'm not at all sure about that. I can be very definite about uncertainty.

nhb, the £1 party maybe a touch optimistic, but we are definitely on an upswing at the moment. If complemented with good news then it could be a fairly long upswing.

Sorry CC, I should have put in 16.98 not 16.94 -:)