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Santos Ltd (STO) $7.86

An interesting market characteristic which often raises its head in financial markets is how “smart” equities can be e.g. when it comes to resources the stocks regularly form a high or low well before the underlying related commodities. Back in 2019 when crude oil traded into negative territory, which is even harder to comprehend than negative bond yields, STO turned higher weeks before oil – if we are correct the same may be true on the downside.

STO
MM is now neutral STO around $8
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Santos Ltd (STO) v Crude Oil ($US/barrel)
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