Big Dirt hangs on, Big Spruik crashes
Advertisement
Big Iron is hanging on today with BHP 0.6%, RIO -0.2%, FMG -0.6% after yesterday’s high quality shellacking and WHC -0.2%. Dalian is up a bit at the open:
Big Gas is likewise holding up, no doubt hoping not without cause that OPEC will any minute resume its bluff. WPL is -0.2%, OSH -0.3%, ORH -1.7% and STO flat though yesterday it broke support and technicals are gesturing at a return to 2016 lows:
Advertisement
Big Gold is not rallying much despite the shiny metal jump with NCM 0.2%, RRL 1%, SBM -0.8%, IGO -0.5% and EVN -0.7%:
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.