Hunting

SP looking for upside again. Unlikely that it will not hit 253/254. It'll make a decision around there in my view. There is a fair bit of upside here. Perhaps to 304 or so

We went down to around 233 yesterday then stabilised. Gap up today suggesting some buyers back in. But, it's the first few minutes of the day. In my view, we'll see 235 or so (rather than the current 242) this morning (or soon) so I will not add until I see this.

I personally would not top up or enter this now unless the SP falls to or beyond 237.5. I closed about half of my leveraged position at around 250 and intend to buy back more at or below 237.5. I have not changed my larger share position.

Here's a chart

A heads up on this one. OPEC's output cut has it on the front foot, Before open it was 237. It's now 250. I can post a chart if you want, but I sometimes think a heads up to get you to look at your own charts and take your own views is just as helpful. For my money there is a logical target now of around 275, but there's an upside gap to around 305. If POO stays high and it's predicted to see or exceed 90 after OPEC's cut, we could see both of those targets hit.

uk.finance.yahoo.com/news/oil-prices-sur...slash-182859829.html