chsmit

Renegen lower ? So much hipe in this stock during 2022, and for good reason with its helium and natural gas story. However, this is a high risk stock as it is still in its baby shoes. Technical sentiment indicates that we might see #Renegen price even lower. The downtrend in #Renegen share price is now trading on the right shoulder neckline of the head & shoulders pattern it has formed, with a potential price target of R10.90. Tailwind for even lower prices is the broad negative sentiment in the markets due to macros and SA specific issues such as loadshedding.

Oil Higher from here? On Sunday OPEC+ announced: The 3.6mil bpd production cuts, will extend into 2024. Saudi's will cut an additional 1mil bpd from July 2023. The #oil #price opened higher on Sunday evening futures open. It now looks like we have an inverse head & shoulders on the price of oil, taking the price into the mid and upper $70s. This may pave the way for oil being in the $80s sonner than later. This will place pressure on the Fed as it will lead to even more inflation. Headwinds however is still the lomming recession in US, EU as well as the weaker Chinese markets.

Gold mid 1800s Looks like high probability that we sill see #gold in the mid 1800s again shortly based on technicals. Fundamentally we have sticky inflation and a strong jobs market in US, which lends to another rate hike, thus recessionary trade taking a backseat for the short term.

#BTC top in place BACK to $16k With the greater market at a knife's point and the US economy waiting for something else to break and recession to kick off, are we going to see Bitcoin back at the $16k level before year end?