The world will ultimately rebalance and compensate for the restrictions to Ruskie fuel. OPEC will be pressured and will ramp up - they don't want the world to transition too fast from oil either. OPEC only behaves when there's a large dose of self interest involved.
CYM just caught up in the negativity, fundamentals remain. Nothing to be too concerned with. Those who said its going to sub 10 just remember, that has happened only once and that was at the height of COVID panic selling in March 20. Message is, don't wait for that.
PE of Wall St and ASX now returning to historical averages which tells you this sell off was over cooked. Not saying an immediate rebound but looks like the carnage is close to ending. Volatility will doubtless continue. But close to the bottom.
Keep calm and carry on. These prices are great short term trade opportunities imo.
Cheers
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Last
4.5¢ |
Change
-0.004(8.16%) |
Mkt cap ! $68.66M | |||
| Open | High | Low | Value | Volume |
| 4.9¢ | 4.9¢ | 4.5¢ | $82.31K | 1.793M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 122971 | 4.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.6¢ | 355362 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| CYM (ASX) Chart |