The price action in SDL looks very sick. Every major support level has been smashed.
The way the price has been aggressively sold down suggests the market might not think
this will be getting off the ground.
More Iron ore supply coming onto the market will only put further price pressure on iron ore and with the peak in demand from China well and truly over the outlook looks ominous for iron ore. The risks for this sector are increasing every day. Not good
SDL Price at posting:
6.6¢ Sentiment: None Disclosure: Not Held