Big iron rallies with futures

Thursday 27 August 2015

Big iron is kind of off the canvas today with RIO down marginally and BHP as well as FMG up 1%:

Idiocy spreads are still closing but it’s slowed right down. There is an inverted head shoulders bottom in place for what that is worth:

Juniors dead:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.