Target of 4100 is within reach, FIB-timing to be considered also

20 июл. 2022 г.

The target of approx. 4100 is within reach also considering the FIB-timeing on July 26th. We shall mind the trough however on August 9th and the fact that downward movements can be very rapid and sharp. There is no betterment in the financial environment yet with FED interest rates going higher, sentiments going lower, EPS to be adjusted in most cases eventually and inflation lagging. Even on the side of crude prices, we can expect lower pricing only temporarily as stock levels of all OECD countries (crude consumption approx. 62% of total consumption of the world) has reached the lowest level of the last 20 years or so - frightening, isn't it?!