Oiling up to be....1 Feb 2022 11:33
A solid recovery.
Early/mid jan, I predicted that we may well end January at circa 224..... yesterday closed at 221... yes, but intra-day we also had a fresh high of 226, so I’m pretty happy with end of month sp.
I also stated, mid January, that it looked like we were clear of 200. Despite someone trying to diss that and saying we were “nowhere clear”.... I think that’s kinda not worked. We’ve stayed clear throughout, even during the Red Sea day a few days ago, bottoming at 206 briefly to have a sharp return with fresh highs.
We were funnily enough, with the same person, in similar thought of aiming to break the regions of 224/225 albeit I called it earlier. Hence why I found rather peculiar in dissing my analysis - some people hey.
So far, my analysis has been fairly “on it” albeit the Red Sea day hiccuping.
As for fundamentals... they can always curve ball TA, but I tend to combo the 2.
Future thoughts... at the moment, what I use for my charts, etc, has crashed on me for the last few days so I need to check out elsewhere and will come back to share my thoughts. From memory alone, if I recall, providing we can steer clear northbound past circa 224 (of which we are again challenging as I write) our next platform to battle through is circa 236. Once in late 220’s we should get through 230’s quite smoothly (caveat.... providing oil remains steady, etc, and no shockwaves of panic).
As many of you probably know, there’s been numerous callouts for oil to hit the 100 dollar mark in the not too distant future - this is looking more and more favourable. Just note there will be a few retraces on the way (2 steps forward, 1 back, kinda thing)
With production on solid form, money rolling in like there’s no tomorrow, normality of everyday life on the horizon, and a nice chunky divi in about 3 weeks...I’d say we should be getting a nice little boost over the coming days providing all stays steady.
Just checked the dividend %age return and as of yesterday’s close of 221, the dividend is set at 7.92% return.... many would be happy with 3% let alone 5% and were still handing out just short of 8%. Of this next “payday” I reckon I’m clear of 40% easy return of my initial investment - just from dividends. This is only the first one of the year too.
Ok, garbled enough.... stay strong and long and this may well be your last time to either enter or top up.
Regarding my “dissing” “buddy” on here... let’s just work together hey.
Gl all holders, new and old
UNB1
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