Confusing

I don't really understand the recent sell down in NCM. I can understand panic selling due to US markets plummeting but I would think a top goldie like Newcrest would hold up quite well especially with gold trading around 1700 AUD. It will be very interesting in coming weeks to see if gold gets support above US1300 and goes on to test the strong resistance level between 1360 -1400 again. Once this resistance level breaks, gold could move up very strongly IMO. Now that easy gains on the general market are over, investors will hopefully turn their attention to gold miners as they commence a new bull run.