Australian Investment Blog

Resources are hammered yet again!Good morning everyoneOverviewThis morning Bloomberg screens are awash with red, especially around commodity prices; notably - Crude Oil -6%, Iron Ore -2.4% and copper -1.6%.Turning to the MarketsLet's look at these three commodities, both fundamentally and technically, at a very simple level:1 Crude Oil

Last week's OPEC meeting collapsed with the result that the 13 members are going to, basically, pump as much oil as they want until further notice sending Crude tumbling - see chart -1.

With 11 of the 13 now unable to "balance their economic books" with crude oil at these levels it is clear that once again markets have a habit of going along the path of most pain.