The shorts are doing a very good job getting a lot of people to sell. the disparity in the charts today with the all other players in the energy sector is really discouraging. Every time the other players, go up by 1% we cant even muster .5 and every time the other players go down by 1% we go down by 1 to 2 % . This is all relative to the Brent prices moving up or down . So much disparity all thanks to the bears who for some reason are fishing downstream trout.
The bulls are on parade but the bears just keep growling for some reason that i have yet to learn about. The OPEC cuts will be in play for some time and global immediate recovery is now in session. The oversupply issues remains on the cards, however the Brent range is between 40 and 50 $ for the foreseeable future. The PNG issue seems to be resolved . So what gives, why are the bears growling ?
It was good start to the day : 3.85
OSH Price at posting:
$3.74 Sentiment: Hold Disclosure: Held