Giełda Inwestycje Trading on Economy — predictions scored

"At the moment, Orlen's technical situation does not look too good. We are at a key support level, around 125 PLN, which if not defended, opens the way for declines even to the vicinity of 100 PLN, where we had the last significant peaks. "

"As for oil at $100 a barrel, at least for now, there's no point in counting on it; that's something that belongs to the future. And in such a case, Orlen might also perform much worse, because Orlen, like other commodity companies of this type, often bets on the price of that commodity. "

"Here we can observe a breakout with high trading volume near a very strong resistance level, a level from which the company's stock price has bounced multiple times. So, if we overcome this resistance around 40 PLN and break through it with such volume, it opens the way for a potential return to the all-time high vicinity. "

"The technical situation has not improved either. The price has returned to a downward trend, and the risk of breaking the last low at around $60,000 is now elevated. "

"The most important level now is to overcome the area of 4.5 PLN. Then, it will be realistically possible to talk about building a new growth trend. "

"And future communications from the new Fed chief may therefore be shorter, drier, and thus less helpful for the market, which could increase volatility in bonds and stocks. "