RE: RE: RE: Price Action Showing Weakness? Hello and good morning,
forget chart technique in this case, from my point of view. There is only very, very less volume, therefore most of the indicators can change very easily on a daily basis, depending on a view buys or sells.
It was fine when we had a very high volume here in March, but today I think we have to wait and see what will happen in the near future around the EOG blocks and how things will go forward offshore Namibia.
From my point of view the best indicator will be the rate of success of wells going to be drilled in the next 12 to 18 month offshore Namibia. If they hit oil, this will go up, if they hit nothing ... I don't wanna think about it.
Have a good start into the day,
cheers from Neo