Advertisement
Santos and Origin are right on the brink today as the collapse in Brent finally catches up to them. STO is exactly on its January low on the daily chart:
And on the monthly is already through it:
Looks me like the next support line is around the 2002 lows in the $5 range but, to be honest, I would be at all surprised if STO turned out to the FMG of gas (though I know it less well I admit).
Advertisement
The full text of this article is available to MacroBusiness subscribers
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.