Double tops for big miners?

Thursday, 14 September 2017

Dalian like the look of the Chinese data, not sure why:

Big miners are down sharply. At this point both BHP and RIO have rejected breakouts on their bullish ascending triangle patterns. They could form double tops instead:

Big Gas is still rising as it kills pensioners. Brent looks inflated to me now so we may be approaching a correction:

Big Gold is a trading sell here as the USD warms up:

The Big Sleazy is still bouncing. I very much doubt it’s troubles are over:

Finally, MEA has resumed its crash:

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.