Supply is still in surplus right now and I expect this to last till 2h of 2016.
The Market is reflecting this impending reversal and has changed from a clear down trend to a period of uncertainty with rapid movements in price both up and down. Very safe LT position now. Buy in the dips.
New shorters have balls of steel IMO. they have the opportunity to make a quick $ in the volatility as do day traders but IMO the risk is a dramaitic trend reversal to the upside by July as US shale production tapers and war drums pound in the Middle East.
Of course nothing is guaranteed but cant get much better odds than an oil price recovery 2H 2016 IMO.
WPL now a short IMO, page-53
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Last
$28.94 |
Change
0.100(0.35%) |
Mkt cap ! $54.94B | |||
| Open | High | Low | Value | Volume |
| $29.20 | $29.26 | $28.86 | $116.3M | 4.011M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 16692 | $28.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.94 | 2904 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| WDS (ASX) Chart |