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.
(20min delay)