Test out the 50% Retracement level, you reckon, V_H?
Couldn’t mount any kind of assault on the 38.2% fib when it had the chance. Let’s see if it can struggle back past the 23.6% fib next week or not. If so, I would expect it to retest the highs. Otherwise, V_H may be in luck and everything the Sauds threw at it will have been considered to have failed, yeah, like they’re going to let that happen, they wake up every morning thinking how can we look silly to the rest of the world, nothing like utter humiliation to inspire your loyal subjects in your archaic absolute monarchy, yeah, right. Meanwhile, the Ozzie is doomed and it’s only a question of time before it’s worth the same number of US cents as a barrel of Brent will set you back in USDs and we reach the magic A$100/b
Now, what’s going to happen with BRU SP next week? At the risk of looking like a pork chop if I’m wrong, I’ll stick my neck out and suggest we’ll see noticeably increased volume early in the week. We’ll have to wait for formal announcement of production/operations restart sometime in next week or two before we test out 37.5c resistance, but we should steadily head that way in the absence of any further weather delays.
Next couple of months will be jam packed with positive news - these are the days.
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