RE:RE:RE:RE:RE:correctionSnow, so your thesis is supply increases or demand decreases?
The eco woke nutjobs IEA are saying demand will outpace supply through 2023...
Do you feel the IEA is too bullish?
Snowballer wrote: This looks like it has a ways to go to the downside. The macro environment feels terrifying lol Interest rates to go much higher than we think, ECB creating special credit default tools... it's like the world is teetering and on the brink of collapse. Media getting to me I guess haha but how much is true? Seems like we're in for a reckoning from plunging car sales to cooling home prices. Fundamentals don't matter when panic takes over. But maybe it's all a scare tactic to get retail out?
IndianSparrow wrote: The SP now in the gap fill range as per my previous post. This is technically, a great entry point to get back in. GLTA.
IndianSparrow wrote: While it is impossible to predict the timing of a pullback with absolute certainty, we do need them for good reasons. Looking at the charts on 6 months, 1 year and 10 year ( 3 and 5 don't have enough info). We may see a pullback to fill a gap in the $8.50 to $8.00 level, possibly to even $7.75 ( the breakout in the 10 year chart). Not sure if this plays out as the RBC buyback is keeping a floor under this. Next week is expected to be super volatile due to FOMC and mid week OPEX. GLTA.
Cobalt wrote: In the last year we have checked back to the 50 ma 6 times , 7th coming? as we are overbought short term , New lock downs in China that have started could be the spark. 25% pull back from this high would get us there , also pretty much the average of the pull backs. Forums hate pull back posts , ducks and covers , toooo the Moon ;p