CXO - Chart Thread, page-5689

For full disclosure, I'm still in 100%. I'm investing in CXO for longer-term returns (5-10 years) so the short-term fluctuations don't particularly bother me, but I like to give my opinion of what I see happening. It's not advice, it's purely information that may help the reader with their own ideas.

That being said, the weekly to me is showing a potential break of short-term support. We had a previous one at 1.00 but that didn't hold on.
Buyers have dropped from roughly 15-18 million down to 5-6 million whereas sellers are hovering around 15 million. The entire market is hovering around and bracing for a potential recession, IMO. Inflation still going up, along with unemployment. Things are going to get tight over the next 12-18 months, so I factor that into my opinion.

If it breaks the 0.90, I see this potentially hitting 0.75 before some form of a fightback. I entirely believe that the last 54% percent drop is broken into these 2 categories. 35% is a combination of falling lithium prices and the overall market retracting, but 19% is the economy and current conflict situations. So I do value CXO a great deal higher than where it currently sits and I think we are currently oversold.

I'll begin to see healthy normality in the chart when we return to the 1.35 mark.

GLTAH