The bear is back and not before time with BHP pounded -3.9%, RIO -2.9% and -FMG 3.5% as Dalian opens flat after its big overnight fall:
LNG is holding up on hope of a Chinese takeover as despite oil falls WPL and OSH are flat, ORG and STO are both up 1.5% and LNG is down -2.5%:
Advertisement
Banks are getting hammered after ANZ’s clanger with CBA down -2.7%, WBC -3.5%, NAB -2.2%, ANZ -5%, MQG -2%, BOQ -2.3%, Sun flat and BEN -3.8%:
The CBA mega head-and-shoulders pattern is still play (and broken) on the monthly chart but the daily will need to close decisively below the $70 support area to confirm the move towards..ahem…$40:
Advertisement