Have oil and industrial commodities bottomed?

Coal, metal and energy stocks have suddenly seen trading action but are battling against bearish trends.

Summary: In the US, energy and industrial commodities-related stocks soared last week, begging the question of whether the bullish journey has begun. My answer is no as spirit-sapping bear markets do not turn around on a dime. Well-known investors scooped up chunks of coal and industrial stocks but on the bearish side demand in China for energy and industrial commodities is a shadow of what it used to be.

Key take-out: The good news of reversals is now battling the bad news of relentless bearish trends and given weak fundamentals from China I have to lean on the side of the latter.

Key beneficiaries: General investors. Category: Commodities.



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