Nobody bothers w charts here, so a Layman’s look: 12 month daily. Tested circa $1.30 this year multiple times. Most recent run circa $1.30- $1.70. Currently around the $1.50 midpoint pending news and broader outlook. Of some concern are the 3 recent lower highs Sept Oct but holding up reasonably well in a pretty ordinary market. Some positive production and sales news would give confidence and do wonders for the sp imo. Until then, we are rangebound inline w movements in Brent it would seem.
It could be argued it is consolidating at higher levels so let’s see if history repeats and we get a nice run into $1.90 like this time last year.
BPT Price at posting:
$1.55 Sentiment: None Disclosure: Held
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