In other words, the current rally in industrial metals is a finance phenomenon, not a fundamentally driven rally. As we know, the connection between price and fundamentals is very elastic, but sooner or later they tend to meet. So general conditions remain poor, but the path of least resistance for price is currently up.
Anyone know what caused that sudden selloff in ftse last night? Was it the foot and mouth thing?
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Last
8,668.2 |
Change
-89.000(1.02%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,757.1 | 8,757.1 | 8,648.4 |
| XJO (ASX) Chart |