Not good.
posted on
Jun 16, 2022 05:06PM
Pavel, unfortunately SP did, it broke critical psychological support. Not being able to hold $20 is very dramatic, because the next one is at $17.50
We are in a recession, like it or not. A recession can last from 6 months to 18 months. A lot of uncertainty in a world with inflation, Ukraine/Russia , China, etc.
Our leaders came back from Kiev and are talking about more weapons, what ever happen to the peace talk, it looks like never stopping conflict.
It is hard to be invested in a Market these days. One can sell and come back a year from now when hopefully things are better or choose to hold through all turbulence.
As the recession will continue LAC SP can fall below 17.50 to the next support - $12.50 ! Yep, there is nothing between those two.
Unless upcoming good news will keep SP from going there.
Good luck all.