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$2.69 mma offshore limited

Chart has short term potential, page-90

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downsyde

1,066 Posts.

23/03/16

22:19

Post #: 17350877
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Originally posted by suzanmb ↑

Hi downside , I only see sideways basing or accumulation stage at this point . In the accumulation stage stocks take time , sometimes even years , the longer the foundation the greater the rise . However I feel that a trend change is inevitable with the re balancing of the o.p. The charts look good but not yet overly strong . World producers will meet in DOHA on 17th April . We will see what transpires . Probably more posturing by the Saudi's , more bluff and hubris . But in the end the all need the money , so rebalancing is inevitable . The Iranians want $85 the Saudis need $106 Russia need all it can get , and soon . Good luck Mermaids and stay positive.....

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fair enough, as I said not much in tune with the Elliot wave theory, thought everything was either part of an impulse or a corrective wave is all, but think I understand what you mean by sideways/accumulation and how long this can take and what can happen afterwards, the pretty rainbow pic I posted earlier in this thread shows this type of thing between late '03 through early '06.

Last edited by downsyde: 23/03/16

MRM Price at posting: 39.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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