History repeats and often. Have a look at some of the dips in Oil price and the recoils;
$19 in July 1973 to $51 in Jan 1974
$17 in Feb 1999, to $41 in Feb 2000 a year later.
$144 in July 2008 -> $46 in Dec 2008 to $81 in Dec 2009.
Many are predicting we have bottomed, it may go on.
But when history repeats - per Tony's J Curve theory, with restricted investment and carnage in Shale coming in Q1, history will no doubt repeat...
Oil recoil - J Curve
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Last
48.5¢ |
Change
-0.010(2.02%) |
Mkt cap ! $44.81M | |||
| Open | High | Low | Value | Volume |
| 49.5¢ | 49.5¢ | 48.5¢ | $34.87K | 70.84K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 27749 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 10897 | 2 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |