Semb Marine

Havn't been doing update for the past months on a regular basis as I have just elevated my status to that as a father. However, passion for the market runs deep and here it goes again.

Blue lines - Long-term down channel

Green lines- Medium-term up channel

Red lines- Short-term steep up channel

Vol has been declining of late. Watch for crude oil to pull back and this might trigger correction/consolidation to lower band of green channel. It should resume its uptrend around that level.

My view- This is definitely the start of a new cycle ( You dont go from 1400+ to 2400+ and still subscribe to the view that it is a bear rally. This is plain obstinate). Im going long for positional trade, short for short term swing if steep red trendline is broken together with confirmation from receding crude price.