This forced selling is going to provide a good entry somwewhere, it is just difficult to know how far they are going to sell down. I got out of my hold at 3.76, but did not expect such a huge fall.
1.57 to 1.63 is a zone of support, if that breaks, then 1.45/1.46. Then no support till around the 1.05ish.
CDU previously to this sell down has not had high turnover, so the volume is the guide to the distressed seller and further downward presure. I will sit and wait watching volume for a cheap entry. The news of China paying about $800m for NSW copper play shows they still have further needs long term. A patient observer.
CDU Price at posting:
$1.65 Sentiment: None Disclosure: Not Held
