CXU General Chat, page-339

Is Cxu looking vulnerable?

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From a weekly perspective, a drop from 1.8 to 1.6. Volume moderate. No indication of big sell down, but clearly no buy pressure.

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So what is happening? Cxu playing the macro where U stocks are looking to find their bottom before a possible reversal. Cxu though is playing slightly weaker. It touched 1. 5 this week, after nearly 8 months. So its playing weak. Sellers are in control currently. U macro not helping the cause. Danger is in price collapsing if a big seller is in play. On the flip side, not much will take for it to get to 3s if u macro is suddenly strong.

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Personally I was trading the stock this week. I have my core holding which I first wrote was at average 2.

Last week after some trading, I had got it to 1.9. This week I bought at 1.5,1.6,1. 7 and sold at 2. Not big amounts, but intention was to bring the average down when not much is happening. My average now is 1.8, still down on today's closing.

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So what may happen next week? For those reading my posts, I follow CCJ. It needs to hold 39/40 level. If it holds, all good. Otherwise a concern. Spot price too below 80, it needs to go higher, from a psychological perspective. So we are in a critical state now where anything could happen. Let's hope it's positive. Enjoy your weekend and all the best.