LNG juniors burn as oil smoked

Wednesday, 12 August 2015

Brent oil has been falling all day after the China yuan fix and is currently trading at $49.38:

As such, and perhaps just because, the LNG juniors are burning again and the charts do not look good. Santos has hit a new post-GFC low of $6.51 and support at $7 is now ancient history:

$6 is the next support and thence $4.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.