The LNG bubble is bursting

Friday, 14 August 2015

Another resources sector bites the dust.

It’s farewell STO today down another 6% to $6.20 as I write (update: now down 9% at $5.99!):

That break of $7 support on the daily chart has proven an excellent trigger. On the monthly charts there are a range of long term supports between $6.80 and $3.50 (the red box marks the channel):

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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.