Commodities heavily sold down, hedge funds shorting miners and selling everything in this sector (BHP, FNG, RIO).
"Rob Ginsberg, managing director at Wolfe Research, noted in a research note that “the entire asset class is coming under pressure,” highlighting that outside of gold, finding a positive setup in commodities is challenging." "Analysts suggest that copper and oil might be facing surpluses rather than the tight markets that were anticipated. Expectations of supportive fiscal stimulus from China have not materialized, leading to disappointment among those who had bet on a significant economic boost."
BHP Price at posting:
$40.06 Sentiment: Hold Disclosure: Held
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